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You can go with any one from these approach. Main thing how much interesting content is. Content should be useful  for the users.

Regarding SEO Purpose, updations is major ethics and both approach is going to update content on regular basis, so you can go with any approach.

My best experience to track the competitors, review their strategy and then choose best point from each of competitors and make a strong strategy for project.  I use to analysis strategy on weekly basis. Also used some tools for competitor tracking.

Your competitor give you a lot of new ideas........