I'd say it's a little overrated. It is, however, the soul of XC riding in Canada. If you wanna see lycra and CF spokes on the trail Canmore is the place for you.
Great hiking and snow shoeing though.
its also a fucking expensive place to buy a house, also they got lots of expensive RE the locals can't afford and not much infrastrcuture lots of absentee owners cuz everybody lives in C-town
A positive is that Canmore is a great place to garage sale because people with a lot of $$$ buy shit they don't need in C-town and then brings it to Canmore for a weekend garage sale … its usually very good stuff