The thing is that Toronto doesn't need to spend "insane amounts" of money to double it's mass transit system.
LRT is expensive but can be worth the investment as rapid/mass transit but TC was neither. It's called value for the dollar and Torontonians an weren't getting it. If you have to run ads and campaigns to try to persuade people that a system is going to be mass/rapid, comfortable, and dependable then it's not. City Hall kept saying how the people just "don't understand" how well TC will work. I can't stand that kind of condescending attitude. The whole point is that Torontonians knew all about TC and made an informed decision to rebuke it.
The reason I support Monorail is that it is THE safest transit technology, dependable, quiet, and can be built off site. That means that construction doesn't sstop in the winter, several different companies can be used for construction/development, and construction time is minimal, far shorter than any other elevated system or at grade LRT. It's tight turning abilities means it can negotiate around much of the existing underground infastructure.
Monorail would be the best option for all of Toronto's rail corridors and road mediens but can be tunneled where needed.
Monorail offers fast, mass, quiet transit that is very affordable, and can be built in a fraction of the time of most other systems. Toronto deperately needs mass/rapid transit and with the existing budget and that means Monorail.
The Japanese have known this for decades and continue to build/expand their systems. The Chinese, Indians, Malaysians, Koreans, and people of the Middle East have come to realize this and now the Brazilians are getting into the act with 110km going out to tender in Sao Paulo and the Manaus plan coming to fruition.
This is a proven technology as shown around the world and one Toronto should be emulating,