And this has nothing to do with the oil being rancid deodorization is used to remove any water soluble solvents that may have been used in the process of extracting the oil.

If you are going to link to Wikipedia at least bother reading the damn article.

If you want to talk about the potential health impact of oils then erucic acid consumption might be a topic for discussion despite the lack of conclusive research on the subject so excessive canola oil consumption might be an issue despite it being capped at 2% in the US and 5% in the EU if you consume enough of it you might cause cardio vascular damage if the existing correlated data also indicates causation.

But vegetable oils in general are not bad and are not sold as rancid that’s wrong, if you want to be on the extreme edge of the safe line then you can substitute canola oil with coconut, sunflower or peanut oil quite easily and these days also without paying a premium.