In men's epee- there are too few quotas, too many competitive athletes and teams (probably at least 20 teams could challenge for medals on a good day). Reducing the number of teams there is even more ridiculous. But for the rest, which is still 10 out of 12 events...
The Swedish claim that "many world class fencers failed to qualify with this system and this is bad" and then proceed to suggest a system where way more world class fencers would be cut. Almost all top fencers who failed to qualify this time - which is the only time with a full programme of 12 events- did so because of compatriots ahead of them in the ranking, how many countries with a "world class fencer" in an event failed to qualify ? Let's see, looking at the ranking at end of the OQR.
W Foil: no country with a top 30 fencer failed to qualify
M Foil: the only non qualified with a top 30 fencers was POL (Siess #21)
W Epee: GER had Ndolo at #25
M Sabre: no country with a top 30 failed to qualify
W Sabre: ROU had Pascu #16, ESP at #24.
An average of 1 country with a top 30 fencer non qualifying in that event (notice: all of them European) is not that bad.
Secondly: what would change if the qualification system really had as priority the individual qualification, and not giving free spots for diversity's sake * ? Let's give a spot to the top 34 fencers (max. 3 per country) and consider a team qualified only if they have 3 fencers qualified, and see how many spots the so called "top teams" would lose: none, instead they would have taken more spots- FRA in place of HKG in W epee, KOR instead of HKG in M foil and so on. 7-8 teams per event would qualify in this case, with some other countries qualifying 2 individuals.
* Like in the Swedish simulation, where plenty of Africans who barely scored 1 point in world cups would qualify, because yeah more countries.