The Avro Arrow being destroyed is a meme in Canada, but there's a lot of questions at least in the historical community on whether that was a blessing in disguise. The state of the art was rapidly moving away from bombers coming over the North Pole (which an interceptor like the Avro Arrow) which would have rendered a fleet of Arrows expensive and useless.

That being said, it destroyed a large part of the Canadian aeronautical industry since Avro ceased operations soon after and the well trained workforce was scattered to the States. There's a long history of Canadian governments doing shortsighted things like killing industries and then paying out of the nose to try to restart the industry every generation/ See shipbuilding in Canada and how Canada can't build ships for its own navy now, despite being one of the largest shipbuilders in the world in the early 20th century.