The only evidence mounting against this park is that the City proposed it with no actual plan to acquire the lands or pay for building it.
As I've said before, I could argue that your current place of residence is absolutely perfect for the City to build a park, but since you live there, you probably would have some concerns if they announced they were doing that.
Everyone's looking for some conspiracy invovling Ford and Metrolinx and the boogeyman and maybe George Soros, for all I know. Like ol' Occam said, the simplest explanatin is probably the correct one:
-CRAFT acquired the site and started planning;
-The City thought they could undercut their plans by announcing their own, completely impractical plan;
-The developers asked to negotiate and the City said no, instead writing some blog posts and producing 2 or 3 renderings and then did nothing else;
-The public largely bought the narrative that the City was trying to "save" the lands from evil developers;
-The developers continued to plan for development on their lands while the City did nothing;
-The developers won at the LPAT and the City issued sad sack press releases about their disappointment that this much-neeeded park -- the plans for which consisted entirely of 2 or 3 renderings, no actual design, no actual legal argument, no actual land ownership and no actual financial plan for the $1b+ cost - would be denied to the citizens of Toronto.
And months later, still people are disappointed that privately owned lands the City effecitvely tried to steal, will be developed in accordance with the legal rights of their owners.
There's no conspiracy here, folks.
It would have been a nice park, if it made sense. It never did.