There's already a lottery for calves in some southern zones. And yes, people apply for them because it's a very high percentage draw. As far as "enough meat to cover a cracker" - a moose calf is larger than the biggest buck you'll ever shoot - and it's a lot more meat than you'll get with no tag at all.
The MNR has continued to hand out calf tags expecting (as you do) that hunters will not use them. This has been proven wrong for the last thirty years, and even when there is a lottery for calves to further discourage it, hunters still will shoot calves because the system allows it. Instead of "hoping hunters won't shoot calves", why not just get rid of the calf season??? Oh - it's because of the cash. You can't sell calf licenses to hunters for the revenue it generates and expect them not to use them - which is what the MNR is hoping will happen.