Should I get my peg lateral removed? (Photo)

I have a peg lateral on left side and missing right lateral incisor. I am 28 and considering to fix my teeth. My middle teeth have started to overlap a bit. My ortho suggested extraction of peg lateral and closing the space. Then substituting my canines to look like incisors. I read a lot about how canine substitution is not the best treatment here. Could you please advise what I should do?