There is no way they will cancel applications lol. He's talking out of his ass to get views.
What happened in 2012 was only Qubec and it was before they overhauled the system in 14/15. If they cancel this number of applications post AOR at the federal FSW level, the consequences will be dire. IRCC will get the living shit sued out of them. It will also make worldwide news. Nobody will trust the Canadian immigration system anymore and the liberals will face so much political backlash from that. They could even lose their minority government. If they run out of options, what they may do is take their sweet time with no processing transparency and hope people who can't afford Mandamus will withdraw (which I think is already their strategy)