Really? I played a ton of sports growing up, both competitive and non-competitive. I understand the significance associated with being named team captain--I just don't think that not having one is emblematic of a leadership void or some other deficiency on the team. I don't think a "leadership committee" is inherently worse than having a single player emerge as the primary leader of a team.
As I said above, it's not that I don't think it's important. I think the "weight" of the letter can really take a toll on a guy if he's not suited to wear it; I also think some guys rise to the occasion when given the captaincy.
I just don't think having or not having a captain--by itself--would cause or prevent a team from having more/less success. Like if you have five guys who are all strong leaders, by example on and off the ice, and the team chooses to roll with three A's and no C--I don't think that's a problem at all.
My argument is more that the idea of not having a C is portrayed by fans who don't actually know the dynamics of the team as being far more important than it may be.