Even if there were a non-stop bus from Kitchener station to Guelph station it would take more than twice as long as the train. It's a 35+ minute drive, versus a 17-minute train trip.
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This is part of the reason it's disappointing that Metrolinx doesn't have a short-term goal to introduce hourly shuttle train service from Kitchener to Guelph in the meantime while they're waiting for the Silver grade separation to be built.
Two of the three necessary infrastructure pieces were already completed last year (2nd track in Breslau and 2nd platform in Guelph). All that's missing is the track connection from the new Guelph station platform to the mainline toward Kitchener. The travel time is 17 minutes each way, so a single train could provide an hourly service on its own, meeting other (Via/CN) trains at the new Breslau passing track.