They still have some very, very good young players, yes. Plekanec, Krecji, and Voracek come to mind.
But the Czech gold medal team from 1998 didn't have a "super league" of big names. It had Jagr and Hasek (who won about 75% of the medal on his own), but that's it. Jagr was that good in the 1990s, remember, a once-in-a-lifetime talent. As was Hasek. The rest of the team was just pretty good. Some really good players, but nobody great.
The Czechs will always be a threat but their small size of program means they will only be a true contender when they produce a few top-flight players, which may only happen once a generation - if that. Slovakia, I agree, is in trouble once this generation of players is done.