It really comes down to whether or not you use the companion voucher in a utilitous way or not, you can get a no-fee cash back card that won't give you much less.
I contemplated cancelling it when the fee was increased because very little of my personal travel has been on WestJet lately but I stuck with it because I had to prostrate myself at the Royal Bank branch to get it in the first place (scant Canadian credit history, no T4 income.)