This narrative was debunked during the Olympics when the us women looked like crap and barely beat the likes of NZ, etc. In FACT the opener to that olympic tournament was a loss to Sweden!
Sadly the Olympics have criteria for qualification (France losing to US in the WWC quarterfinals basically eliminated them from Olympic qualification) so the Olympic tournament did not have some of Europe's best, but if you sit down and watch a WWC you will see that the rest of the world cares about women's soccer. This is a long held fallacy which is very untrue. Women's soccer leagues exist in France, England, and throughout Europe as well as Australia and New Zealand. Saying that the rest of the world does not care about women's soccer is very untrue, especially when the rest of the world fields teams that are now capable of beating the US.
In the past, the US used their Title IX advantage and college developmental programs to have an overwhelming advantage over the rest of the world. Women attended premiere colleges like UNC, Florida, Stanford, et al and carried on a career either in the NWSL or the former WUSA. The rest of the world pretty much caught up to the US in the last WWC, and the latest iteration of the Olympics was a sign that the US is no longer as invincible as they used to be.