I can understand the cost-cutting. But yeah, the Longwood bridge still needs to be replaced, and the city won't be able to cover that itself. Maybe it'll be part of a separate announcement for 403 work? ...next election of course
And Dundurn really needs a rebuild along that block. So while that's a good thing, there's a net savings to consider that includes the road work, not just the flyover elimination, short-term Longwood savings, and Main 403 bridge improvements (I think both the Main and King bridges and ramps were renewed about 10 years ago?).
I imagine the corners at King and Main could be made less tight by purchasing parts of the Value Buds and Fortinos plaza lots. There are many automobile movements on that part of Dundurn though, so the effects on traffic flow will be big.
While this likely does slow travel time, it is a bit more accessible to the Kirkendall neighbourhoods south of Main and the northern end of the "Innovation District" (at the cost of lower accessibility for Strathcona residents)