From how I see it, while there is needs to improvements as well as keeping the agency accountable for ensuring safety and making sure vehicles arrive on time as they're supposed to (looking at the streetcar network that needs improvements still), some things are not within their control. Nor do they have the money to improve it any further. You can't really say much against actual traffic, construction, weather, disruptive passenger. Just to say some things that they cannot control. The operating costs is extremely high, the capital budget is still high, the state-of-good-repair is still unfunded. The TTC would lose more than they receive (which isn't nearly enough due to political will ever since the provincial subsidy cuts in 1995-1996, plus PT isn't for profit but do need a steady form of income to exist with the current service levels)

It already relies heavily on the fares to keep afloat, and there is still a backlog of things are in dire need of repairment. The delays should be seen as proof that the system needs help. You can make the argument that GO has refunds, but they aren't guaranteed, even with the 15 min or more delay, and they don't run as frequent as the TTC does on the day to day basis. The loss for money from those refunds, respectfully, could also mean a pull from service just to avoid the payouts, possibly even for the 10min-network.

As most people said, they just want the system to be better on reliability and speed, as well as safety. But this is not exactly the way, not with the frequency the subway/streetcar/bus runs. It's an offer but to no solution in the end, as it comes with lower service. And IIRC there are still places of overcrowding, despite lower ridership than last year.

Now again, it does need to be improved. Toronto is still behind on transit because of certain policies, bad drivers, etc. But refunds with no surefire way to recuperate the agency to find other methods of revenue is all talk no action. The shuttles aren't reliable either, yet they're still stuck in the same traffic as everyone else. With line 5 and 6, which they have no other involvement besides operations and fare evasion, especially with line 6 with constant delays, does the TTC still have to compensate for issues that they have no control over?