Read the bill and while not a lawyer, it's pretty clearly targeted at big corporations; two specific bits which likely make it non-applicable:
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(a) applies in respect of a digital news intermediary if, having regard to specific factors, there is a significant bargaining power imbalance between its operator and news businesses
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(d) requires the Canadian Radio-television and Telecommunications Commission (the “Commission”) to maintain a list of digital news intermediaries in respect of which the enactment applies;
Lemmy instances don't have a bargaining power imbalance (or, really, ANY power to bargain at all), and the CRTC would have to list you as a 'news intermediary' for it to apply.