You can be useful to your salary owner by understanding what’s happening in the wider market. I use the example of understanding TLS 1.2/1.3 to explain why L4/L5/App firewalls are losing their value.
If your job requires communication with non-technical roles (managers, project managers, executives), knowing about wider industry and market trends–and how they force vendors to behave–is valuable for your career.
Technology exists in the context of market forces, and IT vendors will respond to those market forces. Occasionally, a vendor might even create something that drives the market in a new direction. Market forces should factor into your purchasing and design decisions.