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Not at all. In fact, when it comes to the Winter Games, Finland is second to Norway on a medals per capita basis. A very large number of medals were won by Finnish athletes in long-distance running and track&field in the first half of the 20th century. Paavo Nurmi was one of the greatest athletes of that era.

The first half of the 20th century was a time when very large parts of Africa and Asia did not participate in the Olympic Games as independent countries. These days, West Africa dominates short distances in running and long jump whereas long-distance running is completely dominated by East Africans. Europeans still manage to do well in javelin, hammer, shot put and pole vault. Asians are a more diverse group when it comes to sports.