>If your interpretation was correct, Meta would not have removed Canadian news sources entirely.
Meta's actions prove absolutely nothing. I could similarly say that Google didn't remove any news, therefore the law has zero effect?
Meta has, for months in advance of anything coming into force, embargoed Canadian news and replaced it with an appeal to the reader. That is political action, and it seems to have failed given that the government didn't blink. Now that Google has an agreement, it looks especially silly.
If Meta continues their embargo of Canadian news, personally I consider that a good thing. The Canadian public accepting that Meta is not a good source or "homepage" for news is a wonderful outcome of all of this.