I believe they do have a chance but that they are not the favorites. Team NA is full of blue chippers and guys who have already produced against men in the NHL (Gaudreau , McDavid , MacKinnon , Eichel , Scheifele , Parayko , Ekblad , Ghost , Couts , RNH ect). They are young but it's not like they are a bunch of kids coming straight off junior. Most of them already have 2+ years experience at the pro level Granted the competition they face is not the same in this tournament that it is in the NHL but on the other hand it's not like they are they don't have a stacked team either.
What's going to be interesting is how they are gonna react when they play faster and more physical teams. Team Europe is not exactly the fastest nor the most physical. Facing Canada and the US will be the real test imho. I could see them giving fits to Sweden/Finland/Russia/Czech Republic.
Will be very interesting to watch for sure