The Danish Iver Huitfeldt / Absalon designs have been praised repeatedly by many naval commentators here in Canada, and I agree it's hard not to be impressed by amount of value these vessels offer compared to modern competitors - at least on paper. But adding to what was mentioned by vonnoobie, I would argue that these are NOT as suitable for the RCN as many are so eager to suggest.
First, as the article (briefly) points out, these vessels are built to commercial standards. This would present a (excuse the hyperbole) a radical departure from RCN doctrine which maintains that it's warships must be second to none with regards to damage control and survivability. The author dismisses the strict military requirements for warship survivability in the area of modern anti-ship missiles. But I would argue that a Danish warship would not have been able to survive a naval mine strike that hit USN warships Princeton & Samuel B. Roberts. This would be especially true considering the Danes typically run a leaner crew (again compared to similar sized frigates) further reducing is damage control & firefighting capabilities and ultimately survivability.
Second, as kato pointed out, the cost of much of the system and weapons installation and integration was not included in the cost. In fact one of these Danish frigates visited Halifax port a year or two ago and it was revealed that most of its MK 41 launchers sit empty, even the millennial gun on top of the hanger was a mock-up only - installed only so the helo flight crew could operate with the proper wind / air dynamics. Again, this is not something the RCN does - when it's combatants depart home port they are fully kitted up (weapons and crew) and ready to operate at fully capacity should they be required. The Danish vessels on the other hand would likely need many months of preparation (and lots of money) before they would be ready for a combat role.
Finally, once you Canadianize a design I suspect the cost difference would erode substantially. A RCN version would require GT's, acoustical signature reduction among many other modifications that would not be simple or cheap. The end result would likely price the ship closer to other Euro designs like Type 26 & FREMM.
In the end, these vessels offer 80% modern frigate capability for probably half the cost - but the RCN would not accept a warship with reduced capability and the recent defense review done does not allude to any such change in doctrine.