Sanding off enough material to eliminate the spider webbing is difficult, nearly impossible. You are likely to sand into and weaken the canvas, and even if you can sand to a smooth surface successfully, it is a lot of work for only a temporary fix. You could sand less and use a high build primer to try to fill some of the cracking, and then paint after a light sanding of the primer, but the result still will be far from a factory finish. You can also just paint right over the cracked finish, working the paint into the cracks, which will help to keep the boat from leaking and will hide the cracks to some degree, at least when viewed from some distance. In all cases the cracking will continue and, indeed, some of the old paint and filler will likely crack again, perhaps right off the canvas.
I just painted over an old cracked paint job to allow me to use the canoe for a few years before I put a new canvas on the canoe. As you can see from before and after pictures, while the cracks are definitely still there, they often have little or no visual impact. I have gotten two seasons of good use out of the repainted hull, but when I went paddling last month, a crack had opened (reopened) and water leaked through the canvas. The old stand-by, duct tape, always kept handy, kept us paddling for a couple of days without a problem. I expect that next time I'm in Maine in a few weeks, the canvas will be dried out and that a little bit of primer and paint and 15 minutes of time will fix the leak. I expect to get 2-3 more seasons of use this way (probably with some minor patching/repairing) before the canoe gets a new canvas.
If you want a long-term solution with a good finish, replace the canvas now. If you are willing to live with an imperfect but acceptable (I think) looking, short-term solution, before undertaking the inevitable canvas replacement down the road a while, a couple of coats of paint will probably do the job.