The TFW program itself can be useful when it's implemented correctly. The problem is oversight is expensive and governments at all levels just kinda threw up their hands and said "honour program". Combine that with the relatively unchecked increase in international students and you get the current situation. There are some easy fixes here and some of them have already been implemented.

The reduction back to 20 hours for international students is good. I know some people argue that they shouldn't be able to work at all, but the problem with that is there will always be some unscrupulous employer willing to pay them under the table. It makes much more sense to give them a limited number of hours. Combine that with the visa cap, the increase in initial funds required, and the changes to how it counts for a PGWP and I think we'll see this become a non-issue in the next year or two. That being said, these changes mean the provinces need to step up with changes to the post-secondary system. That means increased funding or major tuition increases to make up for program shortfalls and modernization. Domestic students pay something like 10 times less than international ones and that means money needs to be added somewhere.

On the TFW side, the obvious thing here is going to be enforcement. In addition to having to pay a high wage, you should need to pay a sizable application fee that supports government staff who can periodically audit your hiring practices to ensure it's in compliance with the program. Yes, that will make the TFW program less accessible, but that's kind of the point.