The reality is that the Canyons is a real estate play. The ski experience is just to get people in the door - it doesn't have to be best-of-breed. The owners have thousands of acres of private property to play with, compared with most resorts that have to deal with the Forest Service and environmentalists every time they sneeze. Success at the Canyons depends on how many condos they sell and how many people they lock into the Colony, not what some powder junkies think about their relatively crappy mountain.
So, the mountain and snow conditions are not top tier, but name me one other large (3000+ acre, 2000+ foot vertical) resort (not in Utah) with a village, condos, golf course, etc. that is a 2 or 3 hour flight from either coast and a 45 minute drive from the airport. The Canyons is not very desirable to locals given the skiing value, but there's probably enough people who want what the Canyons offers over somewhere like Vail and are willing to make the investment. Given that, every decision they make should be with the property investors in mind, with local skiers a distant second.
So, the mountain and snow conditions are not top tier, but name me one other large (3000+ acre, 2000+ foot vertical) resort (not in Utah) with a village, condos, golf course, etc. that is a 2 or 3 hour flight from either coast and a 45 minute drive from the airport. The Canyons is not very desirable to locals given the skiing value, but there's probably enough people who want what the Canyons offers over somewhere like Vail and are willing to make the investment. Given that, every decision they make should be with the property investors in mind, with local skiers a distant second.