I don't know why exactly it worked out that way, but the telephone system is designed to deal with consumer electronics and the coax cable system is not.
It didn't used to be - until the federal government busted AT&T's monopoly, it was illegal to connect non-AT&T equipment to the AT&T network, at least electrically. This is why in old movies you see people dialing ISPs by hand with a phone and then setting the handset down on a cradle - the cradle was the modem, and it interfaced with the telephone network acoustically. The demarc (at least as we know it today) was presumably introduced after the government told AT&T they had to let people have their own networks, rather than considering everything up through the phones to be part of the telco network.