People complain about gimmicks, then, some want to "fix" Canada's domination... with more gimmicks!
The only way to "fix" things (if things really need to be fixed) is for other countries to get better. The USA are getting better, Finland is getting better. Sweden is still good. Russia has declined. Many smaller countries have gotten much better.
These things take time. Canada is in the middle of a golden generation and will always be the favorite because we have the most depth and do not depend on 5-6 players to be healthy to field a team that can compete for gold. Other countries have to develop similar depth (which is unlikely) and invest in the sport like we do (which is even more unlikely). Finland does and for a 6M-people country, they are regularly having great results.
This is not rocket science. It is about the grassroot level and the organisation of the elite. The real question is: is hockey important enough outside of Canada for countries to invest the necessary resources in making their program better? If the answer is no, then, what has to be "fixed" is the global presence of hockey. That would be the real challenge. However, the NHL doesn't give a **** about that, let us be honest and an NHL sanctionned tournament will never be designed to grow the game, it is designed to maximized the NHL profits (hence the gimmicks).