I'd love to see some LRT, even if it was more of a Waterloo-style ION system, although that might be far off (I can still dream though!

). We have a good amount of existing rail right-of-way, but again, still a dream haha
I do think some sort of BRT system could work here, even if it started small to start (dedicated bus lanes, transit priority signals, etc.) and incrementally improved from there (dedicated bus-only streets, improved stations, etc.). You could eventually scale it up to an Ottawa-style BRT (i.e. the TransitWay) as a long-term vision too. For quite a long time Ottawa was bus-only as well, they just prioritized its movement throughout the city (well, in certain corridors at least).
The biggest hurdle currently though IMO is getting council to prioritize transit funding in general. The express 1C route (called the 418X) got shot down at budget last year. The 518X (express route from Tecumseh Mall to St. Clair via E.C. Row) is only working today because St. Clair funded the pilot. The city's Transit Master Plan is a really great vision for the city's transit system, but it's definitely an uphill battle to seeing it implemented