They're probably a more realistic model than (say) the even smaller New Zealand - which seems to be the current favourite of people opposed to the Swedish model

They're probably a more realistic model than (say) the even smaller New Zealand - which seems to be the current favourite of people opposed to the Swedish model, especially since things started going badly throughout the rest of Europe - because Sweden hasn't taken advantage of their smaller size in the same way that New Zealand did. As far as I know they don't have any restrictions on travel from the rest of the EU, meaning they're still exposed to incoming infections from all those other countries with their much bigger populations, and elimination is just inherently more sensitive to rare, random events than strategies which involve living with the virus because achieving exactly zero active infections is so crucial to its success.