Unfortunately I think it is just the competition. I am in your committee and I got a CGS, I can only speculate what got me that score considering I was so low last year - I had a reference from a university different from mine, which my supervisor speculates helped a lot. I’ve also served on conference organizing and program committees which I highlighted this year. I am at UofT but I don’t think school matters. My proposal did not change HEAVILY between the two years. I did get to add a bunch of pubs, only one IEEE first author pub though. I have workshop and poster papers though. I also did have a lot of collaboration. Maybe the ability to collaborate and disseminate research matters a lot? It may just be the research topic too.
Im really sorry to hear, I’d ask to read the actual written feedback - I may ask for my feedback too just to be able to give advice to other people in the future.
Edit: Also OFCOURSE complete your degree! As someone said, you’re in the top 5-10% of your cohort for even making it to the federal level. I don’t think government grants really mean anything if you are a good researcher for your future. Grants are all about the game. Maybe the person who reviewed you just didn’t lie your research. It’s the same with pubs. Some reviewers have shitty days and shitty reviews. It’s not a sign of your capabilities as a researcher.