Isn't a cat capable of seeing in absolute dark? why doesn't it just have eyes similar to the cats eyes then. I think that's what orleander was asking too.
Well first of all, no creatures can see in absolute dark.
Cats make use of moonlight, squids can't.
And not many wavelengths penetrate far beneath the surface.
Red light is absorbed first, then orange, yellow, green etc.
Blue light penetrates the furthest.
So water absorbs diffent wavelengths of light at different depths, this had an impact on how squid eyes evolved.
In short, cats and squids life in completely different environments regarding light. You can't compare them.
A squids eye-size is the result of it's environment. If it could have evolved the same effectiveness while staying small, it would have. Eyes, and associated brain-activity, consumes huge amounts of energy.