In my opinion, there's some good stuff in here. I actually like it better than I thought I would.
1) No more Canadian content as a calculation of time. It's now a minimum 30% of gross revenue. Far better regime.
2) Mainstream news and sports programming (across the entire group) do not count towards the 30% Canadian content formula. Since this programming is successful and profitable, it's a good call by the CRTC not to allow it to be traded off against the formula at the expense of dramatic production, documentary programming, etc.
3) If a local station opts for VFS they lose all regulatory programming protection (mandatory distribution, priority channel placement, and simsubs).
4) Program deletion in exchange is fair especially since the BDU's will have the ability to negotiate compensation to avoid deletion.
Also worth noting that the CRTC may not have the legal authority to actually allow VFS. If the Federal Court finds that the Act does not allow for it, the whole thing winds up as a political decision. Something both Liberal and Conservative politicians don't want any piece of.