The fighters are on the card because they are Canadians or TriStar fighters and are decently known and for the most part somewhat relevant in their respective weight classes. GSP, Carmont, Ring and Hominick all fall into that category.
Cote, Stout, Makdessi, Bocek and Menjivar also fall into this category on the prelims.
The problem is that for the UFC to have put a really good Canadian based show together they would have needed MacDonald on this card as well since he really is the only top level Canadian fighter right now outside of GSP.
As for this card Lawlor although not a great fighter is usually entertaining and I am guessing that this match up with Carmont will actually end up being a pretty good fight, maybe even fight of the night.
Ring vs Costa should be a decent fight as well and I think both guys are fairly closely matched. I think it is more of a fight night main card fight instead of a PPV fight but given the Canadian choices I can see why they went with this.
Out of all the fights on the main card the only one I am really disappointed in is the Hominick Garza fight. The only reason it is there is because Hominick is a Canadian fighter with a decently known name. His 3 losses might be a little unfair to look at(great fight against Aldo and then flash KO against KZ) but he still has 3 losses and Garza has 2 which imo isn't main event quality.
Imo Bocek vs Dos Anjos should be swapped as it will likely be a decent fight and both fighters are more relevant in their division at this time. Bocek is also Canadian and is well known enough.
As for Siler vs Elkins. No Canadian in that match but it should be a fun one. I wouldn't call it main event worthy though as both are relatively unknown to many of the MMA casuals since neither has fought on a main card of any sort yet. I do expect the winner to see a substantial step up in competition though and will probably be on a main card in there next fight(likely a free card depending on opponent).
The problem that the UFC has with this card is that they are trying to cater to the Montreal/Canadian fans by giving them their own fighters like they do whenever they have cards in other countries. Unfortunately there isn't the talent to really do so and there have been enough cards here now that it gets kind of old seeing the same old fighters again and again. Overall I think this card will be ok but I don't really predict much in the way of fireworks.