@Janvonpobben -- In 1993, Japan allowed 83 goals and had a goal differential of -74.
Sweden defeated them 20-1.
Because there were no playoffs, medals could have been decided by goal differential, so it was important to run up the score when you could because your medal might depend on it. Now that there are playoffs, that's no longer the case. You need to win a game to win a medal.
As between 1993 and the present day, I think the loss of Russia from the tournament is a real reduction in competitiveness that is probably more than offset by increased competitiveness from nations such as the United States, Finland, Germany and Switzerland.
Sweden and Czechoslovakia (which dissolved during the 1993 tournament, but still iced one combined team) have always had strong teams, but at that time it hadn't been the case that the Czechoslovak team had the #1 and #2 picks in the upcoming NHL entry draft playing on their roster -- as Slovakia did last year - or the #2 pick in the previous years' entry draft, as Slovakia did this year.
All these teams are much stronger now than they were then, to the point that there are more medal contenders, fewer blowouts, and more competitive games.
If your "gold medal" is that Peter Forsberg's record not be broken, then you needn't worry about that. It is very unlikely to ever happen.
Forsberg turned out to be a magnificent player, and one of my favourites of all time. I only wish that he hadn't suffered the injuries to his feet and ankles that helped prematurely abbreviate his career.