In his book “Feel good Productivity”, Ali Abdaal describes two very distinctive mindset types and how they can affect productivity and well being:

A healthy level of competition among employees might push people to become more creative and motivate to put in more effort in. On the other side, being excessively competitive can cause stress, burnout, and anxiety, which can harm both mental and physical health.

Certainly important to consider when shaping the place where you want to work.

Reference:

Feel Good Productivity – Ali Abdaal

And https://hbr.org/2017/03/the-pros-and-cons-of-competition-among-employees