The elephant in the room is the F35 sustainment costs. Buying it is the cheap part it is owning it that is the killer. USAF leadership are already on record that they won’t be able to operate the aircraft they are going to get without cutting capability elsewhere. If the USAF can’t afford it then I don’t see how Canada can.
Finally the F35 is a first strike weapon optimized to achieve airspace battlefield supremacy as part of a elaborate and comprehensive networked system to deliver air effects in the mostly highly contested areas. Canada’s foreign policy states will not do first strike operations and Canada does not have any of the network enablers that make the F35 special.
Before Canada buys a new fighter it is time to answer some fundamental questions, like why do we have an airforce and what does the government intend to do with it. Define the tactical air effects desired and then buy the airframe best suited.