Okay.
There are 46,000 full-time academic authors employed by Canadian universities, and Access Copyright has only 12,000 writer members. U of T alone has more writer members than Access Copyright. In other words, the vast majority of works that you use in universities are not written by members of Access Copyright.
Where is this money that the authors and members of Access Copyright used to get? They don't get it anymore. Where did this money come from? It came from Access Copyright collecting money for everything, even though it did not own everything. Whatever it didn't own, it kept for itself and distributed this money to the authors. That worked as long as the model worked, but eventually it could no longer sustain the flaws that underlay this model, and it collapsed. That's the money that is now gone.