The issue is that you missed the point of what he was saying.
The Caps still own the waterfront property that would be ideal for a baseball stadium. The Caps stadium proposal was for the stadium to be privately funded and to house the same events that BC Place already gets. It didn't go through because of NIMBY politics that are in the section of Vancouver in question (The MPs that get elected from there, DTES Activists, etc). Many of the same people are also responsible for the "affordability" issues in Vancouver as they don't want to address it.
Vancouver is a larger region than when the NBA was in town and would benefit if the MLB team is in the AL to allow the Jays and M's to build up rivalries.
I doubt Kerfoot and the rest of the ownership group would be able to afford buying into an MLB franchise . They wouldn't sell the land for a song, either.
Do realise that Kerfoot and his ownership group could afford the investment in MLS when they bought in because it was cheaper to do so. Was 35 million if I remember. Now cities like Nashville are on the hook for 150+ million. They probably couldn't afford to buy in now.
BTW, the Whitecaps are the third lowest valued franchise in the MLS.
Now talking stadium and expansion costs...
Even if you own the land and can get politicians to back off, constructing an MLB stadium is a LOT more expensive than the soccer stadium proposal from 15 years ago. Easily looking at just shy of a billion for open air stadium and probably 20-30% more if a retractable roof is added.
And how about those expansion fees...?
Steve Ballmer rocked the sports world by grossly overpaying for the Clippers. The precedent is set and if a second-tier league like the NHL is asking for half a billion, what can we expect an MLB expansion fee to go for? 1 billion? 2 billion? More?
And what about those money-spending fans...
Sure, metro Vancouver has a few hundred thousand more people than in the late 90s (most American and Canadian cities have grown, too). But, and this is the big one, the region was a LOT more affordable to live in back then.
The average home income level is slightly higher than metro Columbus now but the cost of living is close to the Bay Area's.
I don't see a lot of Googles, Apples, Wells Fargos and Facebooks popping up in Metro Vancouver. So, where is the money going to come from for people to afford to buy up 30k seats a game over 80 times a year at a median ticket price of, say, 70 bucks?
Baseball isn't as cheap as it used to be, either and if you're an owner (or ownership group) sinking 3-billion into a team, you're not going to sell at bargain basement ticket prices.
Simply put, metro Vancouver's population cannot afford an MLB team.
Sounds like a "dream," dunnit?