One warning - not to derail the discussion, which is amazing - I'm as sure as is reasonably possible that at least one major search engine used META keywords as a spam signal in the past, and I'd bet it's still corroborating evidence for Google. Probably goes without saying, but if you use it - use it well. Just because it's not a positive ranking factor doesn't mean it's not a negative ranking factor.
I agree that the competitor aspect never bothered me. Hopefully, you also use your keywords in your actual content. Otherwise, what's the point?