Its FTTN - fiber to the node and then coax from the node to the home. Fiber and coax running to nearly every home or neighborhood in a state is quite valuable.
It's valuable to someone with the right to use it where it's already installed. It doesn't seem like something that can be removed and reused, however. Perhaps there will be some sort of down-to-the-wire negotiation between Spectrum and whoever the next anointed turns out to be? "If you don't pay us the first installment on Friday, we'll start tearing out fiber on Monday!" This scenario illustrates the insanity of municipalities selling franchises that include ownership of the networks. They didn't have to do that. Since we'll never need more than fiber, they shouldn't do that ever again.