I actually know quite a bit about routing. Enough to know that you don't call an interconnect a 'route'. A route is a destination prefix with a valid next-hop. But go right on ahead and think you know all about internet routing just because you read a blog entry or two.
And yes, you do let interconnects get congested if there's no business case for upgrading them.
I'm not saying I disagree with your opinion. As an operations wonk, it pains me to see capacity issues and my natural inclination is to fix it.
However, that shit costs money, and not lunch money either. This is when the business side interfered with the tech. Unless there's a good business case for it, those links aren't getting upgraded until there is.
In this case, there was no business case to do so. If Netflix was complaining about the quality of service because of the saturation on the Cogent interconnect, all they had to do was alter their routing policy to send the traffic for Comcast's prefixes out their Level 3 links instead. It's a trivial and often performed piece of BGP traffic engineering. Netflix decided not to do so (because Level 3 is a crapload more expensive than Cogent) and make a public stink about it.
Even after the public stink failed, Netflix *still* decided not to send the traffic out Level 3, opting to purchase direct links into the Comcast network (and, shortly thereafter, into AT&T's network as well. Strangely enough, people don't seem to have an issue with AT&T telling Netflix to go fuck themselves, just Comcast). That decision should tell you a couple things - Bandwidth ain't cheap. It's cheaper than it was 10 years ago, on a per mbit/gbit cost, but the amount of traffic crossing has scaled up even while prices have been scaling down. And it should tell you just how expensive Level3 is to actually use.
You're basically saying that, just because the Cogent link was saturated, Comcast should have instantly gone ahead and upgraded their links with Cogent, nevermind that the guys doing the complaining had links to another Comcast transit provider, who's links *weren't* saturated.
When bandwidth costs are the clear majority of your OpEx, you think twice about doling out CapEx and additional OpEx if there is another option. You would make a horrible network operator.