I don't think it is comparable. Medveščak in KHL had no connection to croatian hockey because there were no Croatian players on roster, while Dinamo Riga's core is always made up of Latvians, so at least NT has benefits from it.
At the same time, Dinamo used to be sort of base for the national team. 2008-2014 every worthwhile Latvian player played on it unless they got rich contracts as imports in Russia or tried their luck in NA. Yet now only Latvian NT players on the team are the 5 veterans over 30 years of age so NT hardly benefits anything, really. It's almost just a facade of "hey this is still something Latvian about this team". Yet I think guys like Rubins or Balcers not even playing here this season tells you all you need to know about Dinamo's relevance to Latvian hockey.
Sure, bringing in this all-Canadian defense at the expense of guys like Jaks, Bindulis, Cukste, Balinskis, Rubins was probably the way to be more competitive, in theory, but Russians have this saying "neither meat nor fish" - that's what Dinamo is at the moment. A terrible team in a complete identity crisis. It would be somewhat fine if they were at least somewhat competitive. And yet..
Just for fun, let's build the team of Latvians in Europe not playing for Dinamo:
Kalnins
Punnenovs
Cibulskis-Balinskis
Freibergs-Galvins
Rubins-Cukste
Bindulis-Smons
(Kulda, Bartulis, Podzins?)
Karsums-Daugavins-Balcers
Ro. Bukarts-Abols-Kenins
Smirnovs-Dzerins-Ri. Bukarts
Jevpalovs-Bicevskis-(Jelisejevs, Andersons, Skvorcovs, Razgals, Vigners?)
This is the team that would take the current Dinamo roster to game 7. And I think it illustrates quite nicely the number of Latvian players relevant to the KHL level that Riga brass passed on for one reason or another. I'd say this number is too damn high to have any illusions Riga and Latvian hockey/NT aren't heading in vastly different directions. We are at the point where a point can be made Dinamo's collapse would be beneficial as more attention would turn to the Latvian league which is quietly getting better and better.