The NHL will never admit it but they never had any intention of sending their players to China to play in the Olympics. The NHL's concerns centered around privacy and safety, but they'll happily use the COVID-19 pandemic to cover up any other concerns they had.
The players negotiated being in the Olympics into the last CBA, but with this year's Olympics being in China there were obvious concerns from a humanitarian perspective. Many questions were asked by owners of insurance of the safety of their investments (Players) and risks behind any behaviors that might be deemed to be against China's current governing regime.
"Dutch Olympic Committee advising athletes, coaches & staff not to take personal phones to Beijing Olympics, saying China may carry out surveillance on electronic devices.
Athletes & others to be given temp phones & laptops that will be destroyed after the Games."
The NHL knew this and because of that they had significant privacy and security concerns, even if they won't admit it. As much as we all wanted to see a best on best tournament, the NHL made the right call the whole time.