I think it gets made. Ortiz seems to genuinely dislike Canelo, probably because he has his old spot. Canelo mid round TKO in a thriller.
Ortiz would get smoked. :smoke Canelo starting to show Pacquiao & Mayweather how it's done by beating up on their opponents worse then they did. Make it happen.
I never really believe these pre fight arrangements when one of the fighters has another bout signed.
Ortiz has never fought at 154. He not long ago moved up from 140. This fight makes a lot of sense for the way GBP is building Canelo.
Ortiz might be able to catch Alvarez early with something big but the most likely outcome would be the more skilled Alvarez checking Ortiz's chin around the middle rounds to a stoppage.