The helicopters and those search planes regularly carry torpedos and missiles. Age of hulls isn't a huge concern, they're being replaced to gain way more capabilities in the air defence space, which requires way more power.
Blue water Navy power projection isn't just about tonnage, VLS cells and age. Frankly, we're far away from China, and there is a lot of exposed battle space across multiple choke points before they could get anywhere close in a confrontation situation. We'd be helping to contain fighting to (likely) between the 1st and 2nd island chains, if not within the 1st. The Chinese aim is area denial within the chains for surface combatants, supported by ultra long range precision weapons (accuracy and reliability to be determined, the kill chain of striking moving ships with ballistic missiles is a hard one). The allies aim is to first contain the ability to power project with strategic surprise -- take out all the oilers.
Despite everything, Canada does have an entire kill chain available to us and is more than capable of pressing an active defence at a time and place of our choosing.
Our submarine force has been more about training our own forces and the Americans how to hunt diesel subs. Our planned order of up to 12, that is changing our why.