GoEDI what makes you think it will backfire?
That's my opinion, they're planning on operating 20+ year old aircraft, that's not going to be cheap. They are planning on competing with CO, Zoom, TCX. I imagine they will struggle to beat other YYZ prices. If they are planning a July start that only gives them 3 months to sell tickets before they begin on routes where most people will already have booked on other carriers.
IMO, another couple of B752s would have done just fine as a starting point for long haul ops, especially as they are already operating one.