Canada, like every other country on earth, needs publicly-funded broadcasting operating at arms length from the government. Years ago when the federal government funded CBC a lot more, they did a far superior job over what they are doing today. The journalistic credibility and reliability of CBC has decreased somewhat over those years, but is still far superior to some of what comes out of the United States. Having a major network offer strong substance over style forces private competitors to have a certain standard of service.
Sure enough, with CBC's fading into irrelevance, CTV has moved away from credible journalism, leaving Global National as the last credible national newscast that I'll actually go out of my way to watch.