Although there's some merit to that argument, there's MANY things to keep in mind that partially invalidate it:
1- IMHO it's unrealistic to think that if the speed limit on the 401 was raised to 130 people would just follow it. Everybody wants to push the limit, and in the era of "Me me me, I'm the most important person on the planet and my plans are more important than yours", people will inevitably push them to 140...150.
2- Not everyone will want to drive 130, so we end up with bigger speed differentials which are proven dangerous anywhere they happen. Trucks are governed at 105KPH for example and with our current average driver skillset where many can barely manage to remain in control of their vehicle at 100KPH, 130 would be arguably dangerous.
3- Public acceptance of raising the limit to 130 for trucks would be lukewarm, so the speed differential issue comes into effect. And many fleets wouldn't do it anyways for two reasons - insurance companies are now writing polices based on these limits, and the difference between 100 and 130 would generate an astronomical increase in fuel consumption. With many fleets already running on the ragged edge of profitability, that can't be justified. The only ones that would run 130 are the ones already skimping on maintenance and safety and often with low or no experience drivers at the wheel (would YOU want that?), so that opens a whole different can of worms.
and lastly...
4- The quality of the drivers in this province wouldn't safely handle 130 on the 401 series highways. Anyone who's ever spent any time driving through the province would surely agree that we have some TERRIBLE drivers here. This is the fault of stupid easy licencing requirements over the last many decades that has put a whole generation of drivers on our roads that are barely capable of navigating city streets, much less safely merging on a highway, or maintaining a safe flow with traffic travelling at a much higher speed many seem to be capable of driving at to begin with. Coming back to your Europe argument, compare the level of mandatory driver training there vs the joke we have here and you can see why their drivers are actually capable of handling those speeds - they're trained to do it. In this province you can get your licence out of a Cracker Jack box with little effort and we have loopholes like downtown Toronto drivers doing their road tests in sleepy little towns hours away with 1 traffic light that only make the situation worse.