The loser of this consolation round would still get to play the 5th place Caribbean nations for the last spot for the Gold Cup. This will not change.
Good for Central American Teams
The top teams will not have a negative effect since they will still play in the knock out rounds, still get their guaranteed 4 spots for the Gold Cup and still crown a Champion for this regional tournament. I think if the Gold Cup and CONMEBOL Championship can add teams to increase the tournament then the Central American Cup should also.
The teams in the Central American Cup are almost the same teams they face in the Gold Cup. Playing in the Central American Cup as a guest would provide the Canadian faithful with a nice competitive tournament before the Gold Cup. Since Canada doesn't make the World Cup, a tournament like this would do great to raise the interest of the sport in Canada and improve the national team. Qualifying for the Gold Cup would draw more interest to the Canadian national team.
This is how things could work. The top 2 teams in each group get the coveted 4 Gold Cups spots. These top 4 teams then play in the Championship knockout rounds, just like it is now. Tjhe winner is the Central American Champion.
What will be different and better; will be the bottom 4 teams will enter their own MEANINGFUL knockout rounds. The winner will get Canada's automatic spot for the Gold Cup. The bottom 4 teams enter their own knockout round for Canada’s extra Gold Cup spot. Here is an example. Canada will play Nicaragua and El Salvador will play Belize and the winners play each other for the Canada's automatic spot.
This way all nations in this tournament will play a minimum of 4 competitive games and the 4 others will get to play 5 competitive games. This increases competitive games for all most every team for this tournament.
Lets now say Nicaragua hosted the next tournament. Nicaragua would still have the fans at the games since they would be fighting for the last Gold Cup spot. This would or should increase attendance and interest to ANY host nation and their fans even if they don't participate in the Championship bracket.
Bad for Canada: Not really
Now let's Canada doesn't win the final of the losers bracket. They still have a chance to play in the Gold Cup by qualifying for the Central American v Caribbean playoff spot. They would do this by losing in the Championship of the losers bracket. This now would give Canada 5 competitive games in the Central American Cup and 2 more games in the playoff against the Caribbean nation 5th place finisher. Qualifying this way would be the best of all cases for Canada. Why?
Well First of all if Canada can not place in the top 4 of the Central American Cup, nor make the final of the losers bracket then you can be assured they could be losing these games in the Gold Cup against better competition.
OK....you say! i make a good point but why is it the best. IT become the best since Canada would maximize their competitive games in the Central American Cup with 5 games and then have the huge advantage of playing 2 more games against a quality Caribbean nation like Guadeloupe, Martinique, French Guiana or even Dominican Republic. This would give Canada 7 quality, confidence building games leading up to the Gold Cup. This would give the Canadian team such a huge advantage to work as a cohesive team and finally advance out of the group stage of the regional tournament.
The worse case is Canada doesn't qualify as a top 4 Central American participant and lose the losers bracket against lowly Belize or Nicaragua. I don't think Canada would have advanced in the Gold Cup (only 3 games). So Canada would still play one more competitive game this year. That is the worse case.
Every other scenario Canada benefits and that is why they should offer their automatic Gold Cup spot as bait to play in the Central American Cup.