What is power creep?

You say something is power-crept based on comparison.

Generally new heroes are added to the game power-crept in comparison to older heroes, which creates a new threshold of power level to compete with, making older heroes outdated, so they get buffed too.

Classic example: Genji buffs
They explicitly explained that Genji’s buffs were given to him to compete with Echo and Doomfist, post-released heroes.

You can read it yourself here:

Another example are Ashe’s buffs, despite the fact that she was a post-released hero, there was already a damage output threshold to be competitive and she wasn’t achieving competitiveness: