I've never used Sikaflex as a substitute for a bedding compound sich as Dolfinite because Sikaflex is a radically different product. Traditional bedding componds are designed to keep moisture out and to remain pliable (so you can separate parts later). Sikaflex is a very strong bonding agent. It cures, bodning pieces together with great strength. It is also an excellent moisture barrier. These are important properties where you want to bond parts together, essentially permanently, and where they will be exposed to constant moisture. On a canoe however (in my opinon), Sikaflex is gross overkill. Do you really want parts permanently bonded? And as moisture barriers, Dolfinite and related products work just fine.
Traditional bedding compounds are expensive- I don't know why. But cost will add up with Sikaflex too. The manufacturer cautions users that tubes are essentially one-time use, and not to hope to use partial tubes later because open product will cure in the tube. Dolfinite may skin over on the surface in a partially-empty can, but underneath, the product is still perfectly fine. One can will therefore last a long time.
Cost can sometimes be an issue, but in the long run you'll be much better served spending a little extra cash for a job well done. Another way to save- if you're working on only one canoe or small boat, buy a can of Dolfinite with some WCHA buddies and share!