Since the article throughout is recommending lifting the reimportation ban thus forcing more costs onto the rest of the drug subsidized world in order to sustain R&D costs, I don’t agree with your analysis.
As to the collapse of the Canadian system, I don’t know enough about it to speak.
We risk trying to "fix" the market distortions that have been caused by excessive intervention, both here and in other countries, by yet more regulatory intervention.
My current guess (yet another vacillation, sorry) is that it won't really make much difference whether or not re-importation is allowed. The excessive role of government in medical services and drugs will continue to grow.
That article favored "lifting the reimportation ban" because it could be a first step toward reducing the market distortions of excessive government intervention. I doubt that.