There are lots of laws in Canada that are not enforced. Ap owners/controllers will wait to see how the government wants to handle this. If the government starts making demands then they will pull out, but I doubt the bill itself will trigger anything immediate.
Signal, NordVPN, Psiphon VPN, Tailscale, Windscribe, and DuckDuckGo have already confirmed that they will stop offering their services in Canada, and not route any of their European services through Canadian proiders.
Hopefully it doesn’t get CRA (tax) enforcement where the little guy is relentlessly pursued while the rich are too much trouble to go after.
Canadian law enforcement have publicly stated that they intend to target encrypted messaging apps as soon as possible if the legislation become law.