Many webmasters perform competitive analyses of their top competitors to see their backlink profile. It's one method of uncovering opportunities for getting more backlinks. Occasionally, you may run across a competitor doing well in the SERPs with no backlinks. They may have reasons for hiding their backlinks if they have any or they may rank on their content alone.
How to Hide Backlinks
It's easy to hide backlinks from competitors by disavowing the bots from the most common competitive analysis tools, such as Semrush, Ahrefs and Majestic, in the .htaccess file. The rest of the backlink checking tools offering competitor analysis of backlinks only show a small portion of the site's backlinks. Many webmasters don't bother blocking every bot that looks for backlinks.
Why Hide Backlinks?
One reason would be to keep competitors from seeing the sites you found which gave you a backlink. You did the research; you may feel they should do their own. Why should your competitors benefit from your work?
Private blog networks are a good way to build backlinks, however, Google frown on them. A savvy webmaster checking a competitor's backlinks could spot a PBN and report it to Google. Individuals who use PBNs will hide their backlinks from competitors.
High Traffic with No backlinks
Some sites can receive a lot of traffic, but have no backlinks yet. They may excel on social media and drive visitors from there. If so, they will earn backlinks naturally. They probably don't engage in link building campaigns because they are already busy.
It's okay to spy on competitor's backlinks, however, it's better to look at their content. If they have long, in-depth articles which are well written, you need to make sure you do as well. Backlinks are an important ranking factor, but content is still king. You should create content which visitors will want to link to because it's the best resource on the subject. For more information click here https://www.reddit.com/r/SEO/comments/ghdo4t/ifoundadomainwithadrof1thathas_a/.