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Short version: cable is more optimized for sending everyone the same content at the same time. (And all users connected to cable get all channels all the time, even if they're only watching one or two at the time.) Internet is made for each user getting what they ask for when they ask for it.
Either technology can be used for either use case, but they were originally built for different purposes and so are optimized differently.
Just like a subway train would make a pretty crappy private one-person vehicle for commuting to work and the grocery store. As would a fleet of cars be crappy for public mass transit.