I don’t see how building the canal benefits anyone. USA uses the strait, as the only ships that are restricted are non-russian military ships with cannons over a certain size. We take missile carrying ships and it is OK. Other countries haven’t been that bold. Russia is specifically exempt already.
As far as non military ships, if they build the canal and paying, will allow ships to transit faster, but the more traffic in the canal the more it relieves traffic in the strait, thereby reducing the need to pay to use the canal. The strait is free so plenty will wait through the delay instead of paying to use the canal.
The canal will be self defeating.
USN ships would be sitting ducks in range of Russian land-based air power. Out sending stuff into the Black Sea would be suicidal in a shooting war.
Good points plus the cos of building the canal 8n the first place plus the loss of the lands replaced by the new canal. It could pay off down the road but the plan comes with lots of uncertainties and risks.