Re: If the olympics were still amateur...
So what else is new, you want pros to play in college, too. Why not just watch the NHL, and then the all-star game?
The attraction of the Olympics, in my mind, is that it is one of the only places that truly measures world champions head to head - the best athletes in the world in that sport, save for soccer and boxing, which do not send their best athletes to the Games. The Olympics is really many simultaneous world championships where the best players in sports compete for their countries.
The Stanely Cup is a club championship, as is the Super Bowl or the World Series. They may call themselves "world champions" when they win, but they aren't, as those teams represent a city, rather than a country.
Hockey has a world championship each year, but it is a second-rate tourney, as players who are involved in the Stanley Cup playoffs are not included, and many other big star players decline the invitation to play. It's also held primarily in Europe, which reduces its visibility here in the USA.
Hockey's World Cup is a great tourney of best-on-best by country, but it's sporadically held (diminishing its value) and is also held in September, when players often not yet in top form, and it competes with a lot of other sports in full season for visibility. If NHLer don't go to the Olympics, a revamped World Cup is a must.
If the Olympics were only for young athletes or amateur athletes, it reduces the value of an Olympic Medal as the signification of the best, because the best players in that sport aren't there. Olympic Soccer and Boxing medals have been really reduced in meaning without their best athletes competing. Hockey would go backwards in creating a second-tier tourney, much like Olympic Baseball was (and that's why they dropped baseball, because the best weren't coming).
The only reason that people are so fond of the "Miracle on Ice" was that a bunch of young US college players beat "the best" team of Soviet 'amatuers-in-name-only' who had demolished the NHL all stars the year before. If we go to a U-23 or U20 or minor leaguers in the Olympics, the whole tourney is diminished in value because the best players will be in the NHL, including the Russians. Olympic Hockey as a tourney of B and C teams means very little.