I agree with this.Canadian athletic departments do not offer full rides as is done here. Toronto would have to drop all sport affiliations with other Canadian schools. Not going to happen.
Toronto is a world powerhouse academic/research school, but realistically it's the same odds as adding UChicago back or adding Johns Hopkins as a full DI member.
Note that may sound weird to say as JH does play DI lacrosse in the Big Ten. But I believe they are grandfathered in and DIII schools are no longer allowed to play one DI sport outside of the revenue sports.