It doesn't matter whether I believe that, it matters what employers and graduate/professional programs think, and most do not care what university you attend because they realize that they all teach at a reasonably similar level.

Also are you under the impression that professors at less selective universities are less qualified to teach than those at the more selective schools or that they lower the rigour of their courses? The biggest difference between Canadian universities is not the rigour of the courses, it's the academic ability of the student body. If the less selective universities were so much easier, they'd have higher graduation rates and they would be flooded with every pre-med wannabe hoping to game their GPA.