Iceland seems great statistically because there is no national underclass. Most Icelanders would be considered "middle class" today in the United States: some college, literate, aspiring to home ownership, and employed in services.
In every other country, the national statistics are skewed by some underemployed, undereducated, and often foreign "labor class" (or worse, welfare class). There is no "ghetto" in Iceland (though strangely, graffiti is everywhere). Why?
Because every modern nation was at one time "industrial," and industrial countries must import/create/preserve a labor class to work factories and plantations. But Iceland went from "frozen rock" to "modern service economy" in about 70 years.
I assure you that it's not a magical fairyland where everyone is happy. It's more like an American suburb of 250,000 (maybe in WA) where everyone is white and employed in an office... and a glacier/volcano/wind storm has trimmed away the unpleasant urban and rural elements and plunged them into the Arctic ocean.
Icelanders have the same hopes and strifes one would expect in such a suburb.