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After goalkeeper Maddie Hinch’s stunning penalty shootout heroics in the last-eight victory over Spain, defending champions GB were hoping to avenge their 1-0 group stage loss to the same opponents at Oi Hockey Stadium earlier in the competition.
However, the Brits will now go for bronze against either Argentina or India - who go head to head in the second semi-final at 11am BST on Wednesday - after an emphatic 5-1 loss.
For the Netherlands, it was revenge for the dramatic penalty shootout defeat suffered in the gold medal match at Rio 2016.
They are now guaranteed at least another silver medal this time around.
"We haven't become a bad team after one game, and we are still going to fight for this bronze medal, which we would be incredibly proud of if we come away with it," GB’s Hinch said.
"I don't think we should fear it. It would be massive for this group if we get a medal. We learnt from Rio that it is all about the power of belief.
“Yes [bronze would mean as much as gold]. Given the whole cycle - Covid, change of coaches - then it would be massive for us."