See but cardio follows the laws of diminishing return. Depending on what your RHR, WHR, and MHR is, and whether or not you keep your heart in its correct zones is what determines the type of results you have.
Usually the trick is to do low impact cardio at a brisk pace, keeping your heart rate slightly above RHR. Most builders will only walk on a treadmill at 3-4mph with an incline.
Since I spin heavily, as well as stairs and run, I burn fat at a higher rate, but at the cost of burning muscle at a higher rate as well. So often I end up setting myself back on lifting gains, bc I burn away too much muscle. That's why "most" cyclists are extremely thin, and not bulky/muscular. They end up burning through stored sugars and fats, and their body begins fueling itself with muscle.