From a classical liberal perspective, Switzerland's governance seems utopian. Low taxes, good services even for low income people despite the low taxes, very decentralized government, and it really does seem true that "no one bothers to know who the president is".

My big question: what's the catch?

No diversity. Much easier to make policies that work for everyone.

Building https://srcbook.com // creator of the https://blockchainsmokers.xyz

four official national languages and in my experience there’s loads of diversity here. 
how do you measure diversity ? 
some regions have less of course but as a whole country i’d say the statement doesn’t hold