Well, from MW perspective there are two cats: one dead and one alive.
In a "potential-world" language I guess one would say that the cat has (a potential for both being dead) and (a potential for being alive). However, due to decoherence it does not have a potential for being (dead and alive). What's the difference? Let me give a non-quantum analog from my own experience. When I was a child I have showed some talent for physics and also some talent for arts. But I had to choose only one profession. So I had (a potential to be a physicist) and (a potential to be an artist), but I did not have a potential to be (a physicist and an artist). As you may guess, in actuality I have chosen the former (and never regretted

).
(BTW, does anybody know how to attach a jpg picture which would demonstrate my child artistic talents? I have a scanned version of the picture on my computer, but I don't have an URL.)