Actually it's used as a parallel transmission scheme. In the UK, there are nearly 2000 carriers, each of which is amplitude and phase modulated to carry either 4 or 6 bits per "symbol". Sure, it's designed to cope with multipath reception, and other types of interference. But it's also designed as a parallel system. So is ADSL (and WiFi, I believe).
However, as you say, Nigel, it's entirely irelevant to this thread, but very interesting none the less! All that clever processing just so that we can watch trashy soaps or download porn!