Official Explanation Magoosh:
Split #1: “comparing” vs. “comparable”. If I say, “comparing blah blah, X ....”, then X must be a subject performing the action of comparison. It would be grammatically correct to say something like “Comparing himself to Jefferson, the candidate said ...” --- in that sentence, the candidate is the one who performs the act of comparing. Here, the sentence is drawing a comparison, but the target of the modifying phrase, “spider’s silk”, is not performing the act of comparison. Rather, “spider’s silk” is merely a term in a comparison --- therefore, it is “comparable.” Choices (A) & (B) incorrectly use the participle “comparing”, but choices (C) & (D) & (E) use the adjective “comparable.”
Split #2: order of the “than” phrase vs. the “at” phrase. The subject, “spider’s silk”, is one term of the comparison. The other term, “high-grade alloy steel” is the other term --- this is the object of the “than” phrase. The respect in which they are being compared, “holding its own weight”, is the object of the “at” phrase. In what order should these two phrases come?
Order #1: spider's silk is much better at holding its own weight than high-grade alloy steel
Order #2: spider's silk is much better than high-grade alloy steel at holding its own weight
In principle, both of these are grammatically correct. It is possible that the first order suggests an ambiguity --- is spider's silk better at holding its own weight than it is at holding high-grade alloy steel? This is a potential problem for order #1. The big determiner is what comes after the underlined section --- the modifying phrase “considerably lighter because the organic composition is less dense than the metallic elements.” Clearly that modifying phrase cannot modify “high-grade alloy steel” --- it has to modify “its own weight”. Therefore, in consideration of the continuity of the entire sentence, order #1 is incorrect, and choices (A) & (C) make this mistake.
Split #3: the missing verb mistake. Everything before the first comma is a modifier, and everything after the second comma is another modifier. The main part of the sentence is between the two commas. The main subject is “spider’s silk.” Four of the choices have a main verb, “is”, but choice (D) omits “is” and does not supply another verb --- choice (D) commits the famous “missing verb” mistake, so it is incorrect.
The only possible answer is (E).