...Nothing about cellular has anything to do with cable service. What gives?
It's to monetize their (cablecos) investment they made in spectrum holdings a while ago. Smartly letting Verizon provide the services in exchange for spectrum access. While creating an environment it would seem, for Verizon to focus on mobile and away from competing wireline (fibre) based services. Win, win.
Comcast already made out on their spectrum, they sold that to Cellco dba VZW for $$ and the option to become an MVNO. They took both. But this deal will end just as all the others. Cable has no plans on becoming an MVNO of any sort.