I don't really think that is a fair comparison. The signals coming from the network providers is definitely higher quality, but it's typically getting re-compressed into lower bitrate MPEG4, or compressed MPEG2 to allow the local channels to simulcast additional content. The content sold by Apple is typically mastered at the source, which has its advantages as they can control how it is compressed into H.264 MPEG4.
FPS has absolutely no bearing on "level of HD" quality.
He was taking a poke at a guy with a big screen (62") television expressing hope for 1080p quality. His poke involved the implication that 720p quality from ABC & FOX is the same as 720p from Apple. In fact, Apple's variation of 720p is near the bare minimum. Great 720p should be 60fps, not 30 or 24. It's the 60fps that contributes significantly to the so-called "buttery smooth" video in fast-moving events like sports. Apple doesn't do 60fps but I think ABC & FOX does. That is very different.
With respect to your comments, sure, there are other factors to consider as well. But not all ABC & FOX affiliates are doing what you imply and not all of them compress as tightly as Apple 720p is compressed.
The point is the guy with the 62" screen is not WRONG for wanting 1080p content in a new

TV. 720p is not the only RIGHT because it has represented what Apple has selected as the HD standard for

TV so far. For those that would argue 720p > 1080p for all of the same old, tired arguments, please note: Apple has now embraced 1080p video in the 4s. If Apple still thought 720p is the better option, there was no need to go with 1080p in the 4s. I bet the new iPad will also come with 1080p video capture instead of 720p.
In the end, someone wanting a 1080p

TV is doing nothing more than wishing for better hardware in Macs, iPhones, iPads, etc. Better hardware can still play lessor software to it's fullest, meaning a 1080p

TV will still be able to play 720p video at it's maximum quality. It just doesn't work the other way. Rather than find- and support- arguments against 1080p, consider who loses if there is a new 1080p

TV launched this year:
- The "720p is best" crowd can still enjoy their 720p to it's fullest on better hardware. They do not have to make any compromises, nor do they have to embrace 1080p themselves. Everything they love about things "as is" can remain exactly "as is"
- The "1080p or bust" crowd can finally buy the
TV they want
- Apple sells more units to a niche that waits for that better hardware. I'll buy 3 units myself on day 1.
- We all finally get Apple-endorsed hardware capable of going fully toe-to-toe with Blu Ray (hopefully in audio too).
- Those 4s owners (and probably iPad3 owners too) will have any easy way to watch the video at the quality resolution they shot it, rather than having it downconverted.
Nobody loses in this scenario.
I never understand how so many people HERE can whine when the latest chips from Intel or the very latest graphics cards aren't immediately rolled out in new Macs... or how we can whine that LTE is not in the iPhone yet... etc, but, with this ONE thing, we'll argue why it's best to cling to lessor hardware with less-than-maximum capabilities. It's 2012 people. 720p max was "it" in about 2006.