People aren't seeing the forest for the trees here. Yeah, nobody likes Meta, but the larger impact of Bill C18 will be that sources like Google and other large aggregators will stop allowing links to legitimate news sources, and instead be flooded by blogspam and misinformation.
People won't suddenly be navigating to The Toronto Star when they don't get news on the latest updates in say the Corona virus in their immediate Google results, they'll just continue to click on through to whatever sketchy source manages to SEO their way to the top instead.
Because hating on Threads is cool right now. The spotlight should be on Meta as a whole.