I wasn't involved with writing the article nor the legislation, but I state my stance below.
I legit think this is an over-reaction to the bill, and I'm no fan of the Liberals.
We have to start from the point that Canada is different from the United States. Canada has a smaller population, economy and hence has less influence. In addition to that the cultural similarities between the countries mean that "Canadian culture" has less influence within Canada itself.
The CRTC, is an organization dedicated for the promotion of Canadian cultural media which entails a certain amount of demotion of American cultural media. From the start, it was mean to safeguard Canadian media production. As said in the article, it was first introduced for radio and television airwaves, now it's the 21st century, and it's finally coming to the internet. As such, as stated in the article, streaming companies need to comply and now need to promote Canadian content. In this new age this expansion of provision serves to protect Canadian media production.
Also, unlike the U.S., we have campaign regulation and as such political content will be regulated. Again this is just the expansion of the rules to a new domain. We have minimum broadcast laws for parties and coverage rules for elections, again this is just extending it to the internet. And as always Canada is different to the United States.
The only issue I have is user generated content. This is a bit of a wild card. This is because both a random person and a news organization produce user-generated content on websites such as Facebook, Twitter and YouTube, but one will be subject to CRTC rules while the other is not. I'm almost certain this realization is the reason for the clause's removal. Besides, we have a separate and independent supreme court. If the regulation violates the Charter rights of people than the courts will protect people. What's important here is that corporations aren't people, so they should not have Charter rights. CRTC has existed to regulate corporations. This should have been taught in civics class.
I hope you understand what I'm saying. If you have questions, just ask or read up on Canadian government websites and history.