It is that and much more. Stockholm especially is very cosmopolitan. You can see people of all shapes, sizes and colour here. Many couples have adopted children from Asia and Africa. The stereotyped image of Sweden being a dark cold place where people scuttle between their warm houses is also a myth.
Swedes are great ones for celebration.
They perhaps willfully never really got rid of their folk mentality and continued to practise some of the pagan rituals, in spite of having adopted Christianity centuries ago. No festivals are allowed to pass without full-throated singing and dancing. Winters may be cold and dark, but they indulge in sports like skiing and tennis etc during this time. Come spring and summer, and it's time for celebration. It's commendable that in less than a century, Sweden has transformed itself from being one of Europe's poorest countries into one of it's richest.