I've read elsewhere (mainly Reddit) that LLM programs are considered mere cash grabs in Canada or that an LLM degree is just an expensive NCA certificate. Is that so? Is it still the best path for a foreign lawyer who wants to work in Canada? Are there better options? Any insights would be very helpful.

It depends on your goals. An LLM can be helpful if you need academic credits to qualify for NCA accreditation, but it's not the only path. Some foreign lawyers go straight to NCA exams without doing an LLM, saving time and money. If your goal is to network or specialize, an LLM could add value, but if you're focused purely on becoming licensed, the NCA exams might be the more efficient route.