I had the same cynical view but the more I look at what's been happening in Ukraine, the more I think that a properly equipped and supported LIB, integrated into a broader defence could be effective assuming a comprehensive plan and preparations are in place. I think much of that depends on how well manned, trained and equipped the four Latvian National Guard brigades become.
I do think it would have been better for the Cdn MN bde to have three mech BGs but I note that the Latvian mech bde is also currently established with two mech and one light bns. Maybe there is a concept, beyond mere lack of resources, that I'm missing.