I will be very disappointed if the team changes the name. Raptors is unique in the world of sporting names. If they want to be Canada's team, then they'll keep with the Red and White colour theme, but really this is all just window dressing for a bad team.
If they want to re-brand, start winning games. People in Canada aren't going to start being basketball fans to watch a mediocre (at best) team play. Become an integral part of Basketball Canada and the Steve Nash Youth program across the country. Every single child in the country should get some Raptors swag (even if its just the cheap towels with the logo) when they register for the SNY program in their community. They need to be a part of Canadians and not just the Toronto sports scene if they want to be Canada's team.