Probably yes. Much like the NBA milked Michael Jordan for a broader appeal, the NHL did the same to Gretzky, and tried to do it to Lemieux. As such, they would have worked to protect their "jewel". Guys like Gretzky got that way by being able to play through MJ goons, third-rate players just up from the AHL, etc. Production may have been lower if they played today, but Gretzky, Richard, Howe, etc. were just born to play at the top.
That said, I found myself more interested in watching the WJC on TV that most Wild games at the X. There's something to be said for wide-open hockey.