Canadians will soon not be allowed into the EU

Well, to be honest, European numbers are skyrocketing too. They don't need tourists to add to the germ pool regardless where they come from.
As my city's numbers rise quickly, I don't want to spread it further than is already happening either.
But, I get it. With winter approaching there is less to look forward to than in March we could st least anticipate getting outdoors.

Canadians are so, well, nice--and so I think they should be allowed into the EU.

I was a bit disappointed to hear that news, although I don't have any immediate plans for a European holiday. Just the thought that I could travel there if desired was nice.

Unfortunately the Canadian government advisory against all non-essential travel will keep me here for now, as I can't get travel insurance while that advisory is in effect. With increasing virus numbers in Europe, increasing restrictions like curfews and winter weather arriving soon, it's not the best time for travel anyway.

Foreign travel is just not worth it these days. Once we have a vaccine, it should improve.

This possibility does affect me.
I am hoping to travel to Europe early in the new year. However, I will not be making a final decision about going or not until after the Holidays, depending on what the conditions shall be then.
My booked air is easily cancelled (with the small deposit returned as a future credit) and the accommodations are fully refundable. I would simply feel better about not going if the decision was entirely mine to have made.
As far as the restrictions on entry (or not,) “diplomatic reciprocity” will factor in maybe more heavily than public health concerns, in this case... who knows...

IMHO, I think European travel is out through spring 2021, maybe even longer.