If this were unconstitutional, it would be because it would be a matter of provincial jurisdiction. The question would then have to be asked: is it better for 10 provinces to put in place regulations on these matters or for the federal authority to do so?
There are arguments that radio waves are not the only basis for federal jurisdiction in these matters. There is, among other things, the question of national interest and the inherently interprovincial nature of the activity. In short, all these arguments may have to be argued before the Supreme Court.
Either the federal government has authority, or the provinces do. Therefore, it is to be expected that the Canadian state will intervene sooner or later, whether through the provinces or through the federal government.