It would seem to me you're both right to some degree. They probably don't want to ship to Canada, but it's not because they're trying to screw fans. It's just because it's just not worth the hassle and they believe it just doesn't make financial sense for some reason.
Having said that, I don't know why it would be that much more costly to them. Really all they have to do is fill out an extra form for customs and send it off as per usual. Sure that may cost a little extra time, but not that much. And it shouldn't have taken lawyers and x number of years to figure it out when many, many other american companies ship to Canada without ridiculous shipping fees. Just look at mattel and their motu classics shipping. It isn't that bad at all. In fact it's cheaper to ship MOTU figures from mattel than it would be to ship the same figures across Canada! The figures are expensive, but the shipping options are quite reasonable. No reason Hasbro can't employ similar shipping rates for Canadians. This is why people are bitter and start jumping to conclusions. There is precendent for companies not charging crazy shipping rates, so why wouldn't fans be annoyed.
Honestly, it seems that they have somehow deemed that they will only make a profit by charging ridiculous fees. If that's the case, they may as well have not bothered.