I'm guessing you don't live in the suburbs or attend UBC (or, God forbid, both at the same time). While I agree that transit functions very well in the core part of the city, lack of rapid transit out to the University is a conspicuous weakness -- the 15-km commute from East Van takes over an hour by transit. With a tram or SkyTrain line it could be a third of that. Also, much of Surrey (whose population will exceed Vancouver's within a decade) is very far from any SkyTrain station. To be fair, Burnaby and New West at least are well-served by fast transit.
I think Toronto's Go Train serves commuters better than anything in Vancouver. Montreal has a similar light-rail system which I've used a few times.
In general, though, I agree with you. Vancouver has a solid transit system that could be even better with more funding, and a $500k CEO salary is neither excessive nor relevant to the argument. I'll be voting yes.