The thread starter's argument appears to based on two assumptions:
1) It's too 'cruel' to make them play another game since they just lost in the semi-finals.
2) The teams involved never care, don't play their hardest, and so we get 'bad hockey'.
Getting a chance to represent your country on the international stage for bronze medal...heck in any competition, even if it was just a friendly competition, is huge. Bragging rights. That's not cruel. Cruel is travelling to the Olympics, getting injured during a downhill training run or something, after devoting 4-8 hours a day of yourself to the event for the last 4 years, and not even being able to compete.
This is the Olympics. Try telling any non-medal-contender, in any event, that they shouldn't finish their final leg/run/ski/skate/throw/swim/lift/jump because they don't have a mathematical chance for a gold or silver. That will go over well. Because you're doing them a favor.
As for the teams 'not caring', judging by the reactions of the Finnish team and the Swiss women's team, there were at least 2 teams that cared a heck of a lot. There will always be at least two teams that care enough to fight out a win for a bronze, and two nations that will cheer them on and be entertained. Will one team care more than another? Sure, maybe. But you can't make that assumption, and you can't assume 'bad hockey' is the result either.
Finally....as a hockey fan, why would you want to see less hockey?