Indeed. Once you adjust for the amount of content per hour of TV time (see math below), the cost for cable content is actually closer to $0.88/hr, rather than the $0.61/hr stated in the summary.
For the sake of fairness, if we take into account the average price Americans pay for an Internet connection, the cost for Netflix content ends up being about $1.22/hr. (math below). Of course, that number is kinda useless, since it fails to take into account the fact that most people in the developed world will be purchasing an Internet connection regardless of their interest in Netflix, as well as the fact that their Internet connection provides them with an essentially infinite stream of content from free sources other than Netflix (e.g. YouTube, Hulu, etc.) at no additional cost. But for a hypothetical person who has an Internet connection for the sole purpose of watching Netflix and uses that connection for no other use, I suppose that the number above would indeed be what they pay per hour of content (assuming their viewing habits matched the average American's).
If anyone has more up-to-date numbers, corrections for my math, or ideas for how to improve on these calculations, I'd love to see them, since I'm actually really curious about this stuff.
Math for cable's cost per hour of content:
A typical hour-long American show has 42 minutes of actual content and 18 minutes of ads. As such, while the average American may have the TV tuned to a cable channel for 5.38 hours each day, they're only receiving about 3.766 hours of actual content each day, or 112.98 hours per 30-day month. When the average cable cost of $99.10/mo. is taken into account, that yields about $0.88/hr for cable content.
Math for Netflix's cost per hour of content with Internet connection included:
The most recent numbers I could find for the average price of Internet connectivity in America are from 2014, and that survey pegged the number at $51/mo. (which, I'll point out, would provide far more bandwidth than would be strictly necessary to get Netflix, but it's the average price, so I'm going with it). With the $9.99/mo. cost of Netflix factored in, that comes out to a total of $60.99/mo.. Factoring in the 100 min/day of viewing that the summary mentions (i.e. 50 hr/mo.), Netflix ends up costing $1.22/hr of content.