Maybe but maybe not.
If the (US cable companies) started cutting people off now, they'd probably lose many of them to an alternative service--at least, for TV channels.
The less-monied customers wouldn't be able to pay early termination fees or bills already due, and that alone would prevent them out of signing up again according to the cable company's own rules.
The current situation isn't a matter of a few tens-of-thousands or even a few hundreds-of-thousands of customers; there are very possibly millions of customers in this situation right now.
The cable companies can't just let people quit in debt and then let them restart again later, or else everybody will do it...
So they may be assuming that they must make a choice between allowing a small number of free-riders now, or dealing with a much larger number later on... -Or, losing a lot of customers permanently.
This is kind of like that saying "a rising tide raises all boats",,,, well, a falling tide strands the biggest boats first. ;>)