I wouldn't say the calibre is better. The NHL'ers, for the most part, possess more skill. To say the calibre is better implies that players reach their maximum skill level in their teens.
What's better is the entertainment level, as yyc has pointed out. This is due to the unbridled enthusiasm of youth, a better flow to the game and the fact these players do not have the security of long term multi-million dollar contracts that they must protect. They're doing their darndest to get those contracts. Once they do get the megabucks, their mindset changes and understandably so.
The biggest problem with the NHL, aside from diluted talent and partly because of it, is the coaching. The coaches coach to not lose as opposed to coaching to win. It's more important for the players to not make a defensive mistake than it is to create an imaginitive offensive play. The players are not allowed to take chances on offense for fear of missing a defensive assignment. Dull, boring, clutch and grab, neutral zone trap hockey. That's what we get.
How to correct it is a problem because in theory the coaches are correct that this is the best way for their teams to succeed. It just makes for crappy entertainment. Minor tweaking like fat blue lines, shootouts, no touch icing (a good rule nonetheless), no red line etc. will not have a significant impact as long as the coaches don't let the players be creative. Watching some of the classic games from the 70's emphasized that for me. The skill level of the players wasn't any better, but the game was played with flair and with an emphasis on skating, passing and scoring. It also emphasized how ridiculous goalie equipment is today. Shrinking the equipment (which I agree with) will probably produce more goals but will not improve the flow of the game. What's the sense of watching 4 on 4 for 5 minutes when the first 60 minutes are like watching paint dry. Watching shootouts will become so routine that they will be just as boring once the novelty wears off and again, it does nothing to improve the first 60 minutes.
What will change the dynamic of the game is that hopefully a team that plays wide open firewagon hockey (a la 80's Oilers and 70's Habs) will enjoy an extended period of unbridled success. (I think Tampa was on the right road.) As history has shown in all sports is that others will try to copycat techniques that provide success for others. More teams will go for the offense and the game will be played as it should be. I only shudder to think how long we'll have to wait for that.
I welcome the opportunity.