Wow, leave an hour later and arrive 3 hours sooner.
In any case, since the flight was canceled
EU 261 doesn't say the passengers have to be negatively affected, only that a flight has been canceled.
EU261 says:
If a flight is cancelled,
passengers are automatically entitled to their choice of
- re-routing to the same destination at the earliest opportunity (under comparable conditions);
- later rerouting, at the passenger's convenience, to the same destination under comparable conditions (subject to seat availability); or
- a refund of the ticket as well as a return flight to the point of first departure, when relevant