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I've the fun perspective of having a TV editor bringing home the soy-based bacon product, so I know a little bit about the subject.
They don't just blur logos from the sponsor's competition, they blur any logo that hasn't granted licensing (or if they don't want to deal with the hassle, ALL company logos.) It's all a big cross-consumer market and the second you use someone else's property, you owe them (and/or they owe you, depending on how big you and/or they are.) Just like you won't see brand names on food, people hold their hands over their soda cans, etc.
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