The seismologist Ragnar Stefánsson argues that the elf phenomenon can be understood as a way to cope with Iceland's geology and volcanic activity.

The neopagan leader Jörmundur Ingi Hansen explains it from a pagan cosmological viewpoint; he says the term huldufólk—hidden people—emerged as a euphemism because the word "elves" has a stronger religious connotation.

[1] Le Monde's Jacques Mandelbaum thought the film was a missed opportunity, because it does not explore the possibilities of cinema beyond putting interviews to music.

[2] Bruno Icher of Libération wrote that the film exhibits the director's appreciation for "the paganistic charm of Iceland" and creates an impression of moving between fiction and investigation; the critic called it a "throbbing and delirious lullaby where discerning the true from the false does not have the slightest importance".

[3] Eddie Cockrell of Variety wrote that the film is made with "a breathtaking bag of technical tricks", calling it "hugely entertaining" and a "nature documentary as otherworldly thriller".