If the federal backstop is implemented in a province that does not have its own carbon pricing, first, it's good because it's a broad-based carbon price. “Broad-based” meaning that it applies to a big chunk of the emissions in a province.
Second, it's well designed because it is actually giving a significant share of the carbon pricing revenues from the fuel tax back to households and restoring their purchasing power. It's also saving some aside for small businesses, municipalities, etc. You could quibble about the details, but in broad outline, that is a smart design.
The third thing is that the federal backstop includes an output-based pricing system. The last two things are really modelled and inspired, in part, by the Alberta policy. The output-based pricing system in the federal backstop is well designed to deal with the tough problem of maintaining business competitiveness.
On those three elements, the federal backstop is a well-designed plan. You could certainly quibble about details, but in broad outline, it's a good policy.