Iceland was still a state, even if it did not have centralized authority. This is not much different from how my native Norway operated in early Viking times. You still have parliaments and legal representatives who make rulings.

If anything it was more an example of socialism than some form of anarcho-capitalism. The whole thing operated on very collectivist principles.

That applies to our whole history. The collectivist mindset from Viking times has carried into modern area. Why do you think Nordic countries are social democracies? They are not examples of cut-throat capitalism.

Iceland as an early version of what you see in Nordic countries today, not early version of some kind of American capitalist rugged individualism. Although I know American libertarians like to pretend it was. But then again Americans are just utterly clueless about Nordic society in general.