To me, 50% vs 40% isn't "far more culturally diverse". Especially when you consider that Los Angeles has more than 2x the number of people. And I can tell you that the experience of living in Los Angeles is insanely multicultural. It's like somebody took the globe and shrunk it down to fit inside of a single city. In the course of a 30 minute drive, you can pass through neighborhoods where the store front signage is alternately in Korean, Armenian, Chinese, Spanish, Russian, etc. I mean, there basically are no white people in the city core, outside of extremely affluent neighborhoods.
Pretty much exactly my experience in Toronto, but I never experienced that in my visits to LA. Perhaps Toronto is not "far more" diverse, but I still maintain that it is more diverse.
I imagine that in both cities it matters a great deal which suburbs you include in your census when measuring ethnic diversity so it's really hard to compare directly.