I'm not exactly sure Canon's going to lose tons of revenue.
I own a Canon Multipass and, because of the low price and a desire to see if they work, stocked up on the Recycle Assist ink cartidges at Yodobashi Camera right before moving to China. Well, I tried them out - I was left with fading, streaking, little/no output of ink - the quality isn't nearly as good as the Canon ones.
The problem could be the ink or the precision of Canon's design. Dimensions are on the order of millimeters, so ink that's a tad off can fark the printout, printer, etc. I'm not sure if it's changed, but as I recall Canon stipulated that using anything other than Canon-brand ink would void the warantee. So customers could use the refilled cartridges - at their own peril.
In the end, Recycle Assist failed miserably if their aim was any sort of conservation because I ended up throwing their unused cartridges straight into the trash.