Swiss have a very impressive crop of NHLers that didn't exist in 2010, or even 2014, a couple of which are legit first liners or top pairing dmen.
They've also won two silver medals over the past 10 years at the WCs; Czechs have won a gold and two silvers while Slovakia has won one silver.
There is a solid and obvious top 5, followed by the trio of Czechs, Swiss and Slovaks to round out eight reasonably competitive nations in hockey. As in, it'd be an upset if the outside three beat the top five, but not if any of the outside three beat each other.
Before the Czechs feel too upset by this, I'm pretty sure in a best on best competition, they would only be very slightly favored over the Swiss if not dead even (Haven't checked head to head but willing to wager Swiss have come out with an OTL or a W more often than not), but would not be favored well any of the Top 5 nations. Also being a bit generous to Slovakia based on recent results, but I think they'll turn the corner and stay a plucky and competitive team that can be an outside threat to medal in future competitions.
Have to see how Germany fares going forward to see if there's more to their NHL-less Olympic success.