"Since many services, such as Microsoft's Xbox Live, have built-in bottlenecks, an Internet connection with 101Mbps speed likely won't do any good for many Internet subscribers."
Lastly, I think Verizon is just pissed anyways. Their 50Mb line is like $150 yet Cablevision's 100Mb line is $99. Now they are going to have to lower their prices in the markets where Cablevision is competing with Verizon.
Are you stupid? I can think of several things where a fast connection like that would come in handy: game server, ftp site, Usenet, streaming video, ect.. Also, the way the internet is heading anyways and the services that are popping up, people are just going to want more bandwidth than ever so they can download movies, backup their data online, and watching tv online.