Really? I was under the impression that Bell was just selling access to their last-mile infrastructure
Your understanding is wrong. If TekSavvy were just terminating the loop, Bell wouldn't even have the technical ability to do anything to restrict or harm them.
The situation here is that Teksavvy has access to bulk wholesale Nexxia (Bell's backbone) rates that were forced upon Bell by the CRTC. Again, this was an agreement that was established when Bell was overwhelmingly dominant in certain areas of Canada. If those wholesale rates are "fair", however, then clearly Teksavvy can just arrange with another provider to handle that service. The reason they can't, of course, is that the rates they were paying were essentially monopoly subsidized.