It is and isn't. G7 countries tend to be there and have the resources and affluence to have strong programs and high performing athletes.
Canada is no longer a country with a small population. We're now 40M, much more than say Australia who haul in way more medals.
All of France, UK, Australia, Italy, South Korea are per capita doing better than us in medals. Only Germany, who must've dismantled their entire program due to economic cost of amalgamation with East Germany are doing far worse.
Canada being around top ten in medal count could even be considered an expected result.