I don't really like the precarity of just one bus in each direction per day (what if you take longer than expected coming back from a hike and miss the only bus back to town?). Also, it would be beneficial to ridership to attempt to attract those not just trying to spend all day in one place. I don't think they need to be super frequent, at least not initially, but more than once per day would be a good start (maybe 3-5 departures in a day?).
Regardless, glad for Jasper to finally catch up to Banff-Canmore. Unlike those places, there's also regular train service, which means that you could easily do Jasper carfree in a way that's more annoying with Banff. Yes, there are buses from Calgary, but the prices are often quite steep when I've looked and so it feels like the assumption is you drive to Banff and then take transit there to avoid parking/traffic issues, which is a bit silly. Jasper allows the complete package with this bus system, almost like Switzerland.