Well I think it is generally bad news, although it doesn't have to be. I received some pushback online for suggesting the league is anxious to be rid of Vancouver (I do think this), but maybe they do recognize that at its core it should be a better market than Sacramento or Phoenix or whatever.
The "cheap ownership" narrative hasn't really been true for some years, and it continues to be a lazy talking point. The Whitecaps are middle-tier spenders, but face enormous hurdles to attract players that most other teams won't face, and for the most part they are insurmountable when your league isn't at the top of the pyramid. I'm not sure enduring huge losses every year would actually pay substantial dividends for ownership in this respect. (Although I would have hoped that Jeff Mallett in particular would have been willing to try a bit more, considering what small potatoes it is compared to the Giants).
And much as no one wants to hear it, the fans play a role too. Vancouver used to be the soccer capital of the country, but for a variety of reasons (mostly demographic ones I think) that is very clearly no longer the case. Given the region's history, we should have been up there with Seattle and Portland, but never even came close to generating that kind of atmosphere or interest. Obviously a big part of that is the stadium and a big part of that was the team on the pitch, but there was clear gulf from the very beginning.
If this is the end of the line, it really sucks. Despite everything I followed the team from a distance and travelled several times to see them on the road. I have the Apple TV MLS package. I don't even follow European soccer, I just like having another Vancouver team to root for. I've lived outside the region for most of my life now but I still wear BC pride on my sleeve and when things unfold the way they always seem to, I take that kind of thing pretty personally.