Congrats to the Americans from a Canadian. They certainly deserved it. Gaudreau impressed me in particular, as well as the offensive skill of the American defensemen. Canada looked sluggish, and seemed to be reacting to the American play instead of being aggressive. They were not able to establish their physical play against the speedy Americans.
As for Don Cherry, he certainly is passionate and entertaining, but I don't hold much stock in most of what he says. He forgets the benefits that many Canadian players have enjoyed from playing for American colleges. Read Bob McKenzie (http://www.tsn.ca/world_jrs/story/?id=412699) if you are looking for a good analysis.
To answer the earlier question about how big a deal this tournament is in Canada... It probably receives as much coverage as the Super Bowl does, or even more. The tournament is all over the media (mostly TSN), starting before the tryouts for the team, as analysts discuss the potential players right through to a couple days after the tournament ends. It is the best chance to see the top draft picks against good competition before the NHL, and watching the tournament during the holidays has become a tradition for many of us.
Yes we certainly have our share of perhaps overly passionate fans that will act like it's end of world when Canada doesn't win Gold at hockey, but I don't believe they are the majority. They are just the most vocal ones. I'll be happy to watch Canada play for bronze (which does mean something to me), and then USA vs Sweden in the Gold medal game afterwards.