"There is something about Canada that resists superheroes," says Jeet Heer (via ALD). I've got a few ideas what that "something" might be, but the largest, inescapable reason why our country hasn't produced a single superhero "fit to hold the cape of Superman or Batman" is: we don't have a New York City. Say what you will about superheroes being nationalist allegories (I won't argue), but if the United States didn't have New York City, they'd have never had superheroes, either.
I remember visiting Toronto when I was 16 and thinking, Spider-Man would have a territory of six city blocks to swing around in. After that he'd have to go on foot. You can't be "super" in a city like Toronto or Vancouver! And just try being super in Montreal or Halifax! People will see through that "super" disguise toot sweet, my friend: "'Super' is he? Ha! And him with the print of the pail still fresh on his arse!"
No, only in New York City does anyone get to be "super." 'Cos it's the world's first super city, doncha know.