In the
2010 HSR Operational Review, 52 (Dundas Local) was revealed to have the second worst R/C ratio of any route in the HSR – cost recovery of around 5% and an average ridership of 1 passenger at any given time, possibly a result of the 30-minute headway and weekday-only, rush-hour-only service.
There's some muddiness on this issue since the University Plaza platform is the terminus for most Dundas ridership (anecdotally, at least, since the HSR is lousy at making these things plain). Even so, it's notable that the first iteration of the B-Line LRT ran from University Plaza to Eastgate Square, 2km longer than the current route. Somebody presumably did the math and decided it would not be cost-effective to extend LRT past McMaster based on established ridership demand.
As far as 2014 vulnerability, Powers has represented Dundas for over 30 years, and the ward is one of the most stable, city-wide, in terms of growth. As ridiculous as his stance may seem, he probably knows the mood of his constituents reasonably well. Although premature, I doubt that there's much political downside in his stand.