The Cybermen and Borg are both cyborgs, but I'm willing to bet Maurice Hurley never heard of the Cybermen before he created the Borg. Insectoids were the inspiration, lack of budget resulted in what we saw. RAMA
I doubt it, they also have the Assimilation thing going on too. Major difference being that despite this neither the Cybermen nor the Daleks are treated as "Super-dangerous" aliens by the Doctor, just normal villains. With the Borg the show treats them like they're super-dangerous despite us seeing vastly stronger, more deadly beings in TOS and TNG.
More powerful entities tend to have their own, often unfathomable motivations (also they tend to be metaphors) and therefore don't usually have much impact on the UFP/Starfleet at large. The Borg on the other hand are "the ultimate user" both with technology and assimilation, meaning they WANT to be in our business. The Daleks were the ultimate enemy to Gallifrey, they wiped each other out...supposedly. RAMA
I'm talking about the ones that did, like the Whale Probe or V'Ger, the Pah Wraiths or Trelane. Those beings were a far greater power than the Borg. Hell, Q is more than any of them and made it clear he could destroy them all if it came to that. But they still are weaker than any of the other super-entities encountered (and overcome) in the past. The Feds shouldn't have been so scared of them in the first place. They were revealed to be some ultimate threat 40 or so years after they were first introduced. It was kind of a surprise to DW fans that the Daleks were now treated as such a threat.
I personally think the borg were a better threat the way they were shown in the first episode. No Transwarp, No Time Travel, and NO QUEEN. They should have kept the, "borg only want your tech and resources" aspect. They should have been slow moving but relentless. I even think it would have been better if Picard and crew had blown up the first borg cube in Q-who but only by the skin of their teeth and by pure luck. Knowing that next time it wont be easy to defeat them. Maybe blow up the cube but have a small piece of it land on something like a satellite or on a planet. Then as Picard and co get wisked back home they could show the Borg germ start to replicate and grow. Showing us that yes they are still coming. In this first encounter Picard and Crew think they are a pretty formidable threat but not invincible. Then in the 2nd incursion they make the realization that this time they are even harder to destroy.
That only works if they show up only once or twice. Which is why it was a bad idea to overpower them so much in the first place.