Stop the spin! Not only is Sweden very close to being equal with Canada, but so is Finland, and to an increasing degree, Russia! These countries don't devote 10% of what Canada does to hockey, but the results show that they are all peers of Canada on the ice, when none of the European countries really should be. And that goes to Canada's focus on producing a quantity of hockey players, instead of quality.
No, it clearly goes to show that with limited preparation time and just a few games to be played, even a team that is vastly outgunned in terms of talent can attain results similar to a team with vastly better players. Finland plays very well in tournaments, and their players deserve lots of credit for that, but they are not an exceptionally talented team by any stretch of the imagination. It's laughable to suggest that a country like Finland is producing players anywhere near what Canada is doing in terms of "skill". In goaltending? Absolutely. In the future? Possible, who knows. Right now? No, and it's ridiculous to suggest otherwise. Same for Sweden, though they are certainly much closer. Russia is also doing a better job than Finland at producing players, for whatever it's worth.
To avoid "spin", let's write down the top ten forwards, top five defencemen and top three goaltenders from Canada and Finland. If Canada is producing quantity instead of quality and Finland is quite comparable, this exercise should show it. I'll do Canada.
Forwards: Crosby, Tavares, Stamkos, Getzlaf, Giroux, Seguin, Toews, Benn, Perry, Bergeron
Defencemen: Weber, Subban, Keith, Doughty, Giordano
Goaltenders: Price, Luongo, Holtby
Can't wait to see the comparable Finnish players. Somehow, I'm quite confident that you aren't going to bother writing them down.
Russia is still behind Sweden and Finland in Europe, but the Russians always have much more success against Canada than they really should, given the intense emotional fire that burns in the hearts of all Canadians when it comes to beating Russia (light years beyond the intensity of rivalries with any other country). No one expects Canada to win the WHC, and only this year did Canada edge Russia in the WJC at home to end a 6-year drought (with Russia eliminating Canada from the medal podium the previous 2 consecutive years), but in fact, Russia has more than held its own against Canada in the Olympic Games as well. Since 1998, when all of Canada's best players wore the Maple Leaf, Russia and Canada are tied 1-1, with a total goal differential of 7-5 favoring Canada. Those numbers speak more to equality and parity than do to being "massively behind" Canada, as you put it.
Russia always Canada very well, no question there. Using Olympic results since the NHL started participating is laughable though. Russia is 1-1-0 against Canada in the Olympics. Switzerland is 1-0-1, and thus is even closer to Canada using that method. 2 games is a meaningless sample.
I'll give you the whole quote again, since you strategically left part out: "Russia produces a roughly comparable number of elite forwards when adjusting for participation, and is starting to do well with goaltenders, but lags massively behind Canada in defencemen even after any adjustment a person could make." Russia does certainly lag behind massively in defencemen. Take any list of the top defencemen in the world, and plenty of them are Canadian. Weber, Doughty, Keith, Subban, Letang, Giordano, Pietrangelo and so on. You could make a case that Canada has more than half of the world's ten best defencemen. Russia? Obviously not close. Russia's defencemen are pathetic at this time, for reasons that I do not fully understand.