Research gives you insight, and somewhere in the often pedantic discussions you may find the germ of an idea that will set you on your way. A pile of alternate versions sets you to thinking "That one will put the audience to sleep," or "that one has a good idea in the 2nd verse, but the next one is nonsense," etc. Who knows, you might end up with one of those versions that some people call "definitive."
I am not a musician, but picking over the bones of the past helps the creative process in any field.