TV ads are abit pricey these days.
I also saw Godaddy's ad on TV the other day.

I often wondered the same "why are there no webhost ads on TV"
My opinion is that it is better to get the word out there by online means or word of mouth other than the TV.

As we are targeting a certain group of people.
Afterall we are offering our client's an online presence.

many none computer savvy people watch TV.
It makes sense that GoDaddy.com would only advertise their domain name services (as this is pretty easy to get a good understanding on what their offering).

This is only my opinion.