if your energy cost for that source of power is high, it’s going to lose the financial argument every time.
How high, is the question. How much more is electricity where you live that heat pumps "lose the financial argument every time"? Where I'm from a kWh of electricity is roughly 2.8-3x that of natural gas, so most modern heat pumps will beat that, some by quite a margin.
If globalpetrolprices.com is to be trusted and Canadian natural gas is 0.063 CAD and electricity is 0.165 CAD you're very much in the same boat with a 2.6 ratio. Most heat pumps should be able to beat a 2.6 SCOP even in Canada.
So, sure, the study only looks at COPs and not at overall cost, but I think it's not unreasonable to expect home owners to be able to divide electricity price by gas price and compare it to the SCOP of heat pumps on offer.