Iceland is one of several geothermal "high temperature zones", other zones include effectively the entire West Coast of all of North and South America, including Alaska, as well as a zone stretching from the Mediterranean through the Red Sea that encompasses basically every European country with Mediterranean coastline. There's a major zone stretching from India through Southeast Asia and a separate independent one basically going along the whole western perimeter of the Pacific Ocean.

Geothermal is currently deployed in 32 countries and is regarded as the most abundant source of renewable energy outside of solar, impressively ranking ahead of wind.

So I think the most charitable interpretation of Iceland's example is that it represents one of many regions where geothermal is viable.