Yes, Eglinton Crosstown will be similar to modern LRTs which typically have stop spacing similar to subway.
But that's why it is a modern light rail line. And the streetcars are undergoing the process of modernization too. St. Clair, Spadina and Queens Quay have many things in common with Eglinton: Bombardier Flexity vehicles, honour fare system, operating mostly at-grade in on-street ROW with signal priority. These streetcar lines also have some underground stations too...
That's why I don't think it is good to separate Eglinton Crosstown and pretend the streetcars don't exist. In Toronto, Eglinton-Crosstown is not the first modern light rail line. It will look and operate very similarly to the streetcars, so why not just brand it as part of streetcar system? Like express streetcar or something? It is so much easier both for them and for the riders.
TTC is lucky the other Transit City lines got cancelled because the distinction would have be even more blurred. But Toronto made it hard for itself to begin with by trying to separate the
Canadian Light Rail Vehicle from light rail transit or whatever it is they are trying to do there.
For example, no one says that BRTs are not buses. I say just call it what it is.