It sounds like that is the true issue here (which the unit being an Airbnb is exacerbating to be sure). If it was a normal home, and it happened to have owners who were assholes and didn't care about the neighborhood disturbance, you would be in just as bad of a situation (probably worse tbh). The fact that it is being turned over for lots of short term rentals makes it more likely that you'll get asshole tenants there at some point, but ultimately to fix this the people of Toronto would have to pass noise ordinances and make the police enforce them.

I don't think I claimed they did. The cops don't give a shit. But AirBNB cares that the police get called on a property over and over. They'll eventually cut off the owner.

"suspicion" of underage drinking or whatever then

Then why should airbnb?