To some extent. Though Castle Frank isn't that small with the new second exit (have they put entrance turnstiles in) closer to Parliament, and sprawling bus terminal - which always looked to me like it had been sized for a streetcar loop). I wouldn't have put it in the garbage ridership category either - it's higher than Museum, or Lawrence East that many are having conniptions about the plans to close. It's almost as high as Greenwood and High Park, that no one talks about being non-necessary. Given the significant increase in frequency of the Parliament bus in the last couple of years, I'd think that Castle Frank ridership could easily continue to rise.
Though it's a shame they didn't add a tunnel under Bloor to the south side. That always feels like such a hellish street to walk over - especially at night. Perhaps there'll be an opportunity when they add the elevators. Though if they want to get really creative, they could also put an exit from the elevators at Bayview Avenue or Rosedale Valley Road.