I think you've hit the nail on the head there. Look at the United States' Indo-Pacific strategy: I did a quick PDF search of “Canada” and it came up zero times. There's no mention of Canada.
In discussions with Americans, they won't say that they're doing this to punish you—that it's from certain decisions in your relationship with China—but “it's just that we didn't think of you”.
Is it worse to be punished or to be irrelevant in these discussions? I would argue that the irrelevance is probably a worse sort of outcome, but I think that's the reality right now on this specific matter.