[Pokerfarian]

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simply put, tournament players over value their tp/mp. Cash players proceed w/ tp/mp cautiously.

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So does this mean tournament players are worse? Or is there something intrinsic about tournaments which mean it is right to value tp more?

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I see two reasons for people stacking off with TP more. Firstly, in a cash game it's rarely correct because a lot of the time it's 100BB+ stacks when you very rarely should. In tourneys, a lot of time is played with stacks, though not considered "short", short enough for felting TP to be correct/nearly correct.
Secondly, if one plays "an average small stakes tourney" we're talking say $10. "small stakes NL cash" tends to be say $100NL. So it's no real surprise tourneys players are worse/stack off with TP wrongly more