I'm not sure what the point of the article is.  On one hand it derides Netflix's intent to put money into Canadian productions, but the remainder is a rambling series of statements on Netflix's content costs.

The result of investing in Canadian content is twofold; 
1) Canadian content producers can survive in an increasingly difficult industry for them.  Independent film is in its death throes.  The major studios are consolidating content and platforms.  Be honest - when is the last time you paid money for an independent Canadian feature film?  It's a brutal time for indie producers.

2) Tax credits act as an economic multiplier.  For every dollar spent, the economy boosts by more than that dollar.  It's economics 101 and should be encouraged.

$500 million USD is hardly a number to 'shrug off'.  It's a substantial investment.  

The real question is, will Netflix spend it on Canadian producers, or will they produce their own content in Canada, forgoing Canadian producers?  We'll see.