No, the men have improved. In the past they would usually lose quite easily to the elite teams, now the match is not lost before the start at the very least.
In the recent pro league season they defeated (without the need of a shoot-out) all the top teams at least once. At the last world cup they only lost on a SO to Germany but showed solid performances throughout.
At the COG they narrowly lost to Australia after leading 2-0.
The trend is that England just doesn't lose without giving a fight to anyone anymore and I believe they can fight for a medal in Paris even if it's not a gold.