The fact is that the North Americans have a huge advantage in the World Cup, regardless of how good their teams are. Home soil, hometown crowds, select native son referees for medal round games. Whether the hometown teams are or are not good enough to win anyway is irrelevant to the issue of equal competition. Because most of the players are in the NHL, regardless of country, there is less need than there was during the Canada Cup era for management to intervene to change the competitive balance, but still, it is a huge advantage to be playing at home with all the conditions most advantageous to the home countries.
It would seem that Finland and Sweden have surpassed the United States lately, so its no big shock for European teams to beat them even under ideal conditions, but still, the advantage for the Americans is real.