I think this is turning into one big misunderstanding
Like jon-son I read the stories about people wasting their savings and not finding jobs but I guess it's more due to the person than their ethnicity or country of origin.
What's usually happening in most of these stories is that the people complaining about living in Canada wait months to find a job at the same level or higher than what they had in their home country and are disappointed when they can't find it. In the meantime, they spend away everything they brought in. You can already notice it here when people are outraged that their Masters degree wasn't recognized by WES. It sucks that what they thought was an amazing degree from a great college isn't recognized in Canada's eyes but it's the sad reality.
What the people who got lucky - rather who succeeded, I don't believe in luck - did was accept a lower "ranked" job (or any job) when they landed to kick start their canadian work experience there. It's true that foreign degrees and work experience aren't valuated in the same way, even if from what is called 1st world countries. But it goes down to how hard the person is trying (networking, researching, taking up certifications and courses while job hunting, taking any job while they find a good one...) There won't be job opportunities waiting for everyone as soon as they land but that's the case everywhere around the world and not just in Canada. So the more savings you have the longer you'll be able to wait for a good job offer but in the end, if you don't get any income you won't be able to survive no matter how rich you are.
One of the main reasons (again I read through PLENTY of posts on the settlement in Canada) they find it hard to get jobs is the language barrier (scoring on IELTS isn't a criteria of how well you can communicate and understand English) as well as not knowing how the work culture is. Funny story I read on the forums: Someone mentioned for example that in his home country, he can't but refer to his manager as Sir, or Mr "Last Name". In my home country, we call our manager by their first name and can never imagine calling my manager Mr something. So it's that adaptability to the canadian work culture that counts. There are plenty of anecdotes there so I suggest you check it out and learn from the negative stories as well as the positive ones.
All in all, negativity never helped anyone and neither does over optimism. No one will know what it's like until we give it a shot. I think we all have a potential to succeed and be one of the success stories out there. It won't happen overnight but I'm sure we're all prepared to face and surmount obstacles (just like we've done so far in our home countries).
Sorry for the long post!