I don't think you're missing anything. I have used and owned firearms since I was a teenager. But I have never felt a need to have a firearm in a Canadian city.

A practical example: in all the years I spent living in the city, going to technical college and university, my firearms were stored at my parents' farm. That's where I needed those tools.

For the average citizen up here, the risk for assault is generally very low. Of course if you go looking for trouble, someone will accommodate you. But most urban violence up here involves groups known to each other (and shockingly careless about shooting up public places with smuggled handguns). Situational awareness is the most effective way of staying safe.

That's not to say I'm complacent. I do keep some multi-use, non-firearm options close at hand in my home and vehicle. This in case of the very, very rare random element. I like having options. But my guns are locked up at home, as per law, and that generally suits me.

That's my perspective. YMMV.