Suddenly, after the disappointment of London four years ago when just eight golds made the trip home, it appeared Australia was poised to fly up the medal table.

The pre-games gutting of the formidable, illicit substance-assistance Russian team seemingly opened the door for a welcome and hard-earned return to the upper echelons.

While even the most optimistic analysts stopped short of predicting Australia could top its personal best of 17 golds from Athens, fourth place behind the USA, China and Great Britain was touted.

However, at the time of writing and with the closing ceremony rapidly approaching, Australia has just seven golds amid a total of 27 medals to its name and few chances left to add substantially to that haul.

It sits 10^th on the medal table behind such nations as The Netherlands, Italy, France, Japan and what is left of the Russian squad, with the USA, Great Britain and China filling the dais. Snapping at Australia’s heels is South Korea and Hungary, each with seven gold medals, while the host nation is not far behind on five.

Now, many will say that the 422 athletes selected for the Rio Olympics are already champions and winning isn’t everything.

Of course, that is true. But winning is something, and 27 medals – as it stands – is a very poor return on the $340 million pumped into summer Olympic sports in the last four years.

Much to some people’s dismay, a significant chunk of Australia’s national identity is tied up in sport. It has been a source of great national pride since Federation that we have always punched above our weight on the world stage, considering our meagre population.

What we lack in people, we have been able to make up in terms of wealth, expertise, infrastructure, climate and culture. However, the gap between Australia and other countries is narrowing – fast.

Like sport or loathe sport, it does Australian society no harm to have our youth inspired by the feats of talented, fit and dedicated athletes.

It is just a shame that following the Olympics there will not be more of these athletes to put on a pedestal.

- Ross Tyson, deputy editor