The safety-net gives you the ability to take risks, without risking your healthcare or your children's future.
There is very little poverty and crime here, compared to SF. Public services work. If you go to a shop or restaurant, it feels good knowing that the people working there are making a living wage with 5 weeks vacation, etc.
Norway has more $-millionaires per capita than the US: https://youtu.be/A9UmdY0E8hU
I wouldn't worry too much by that. Is not uncommon to spot some really talented people among immigrants, and people can learn fast in the correct environment. On the other hand sometimes there are fakers among top talented people or some experts lose a lot of shine when moved to a strange/distracting/hostile environment where they didn't grow
For example, no successful business owner on earth who isn’t already there, would ever choose to re-locate to the nordics. That’s not great.
Also, by creating a low risk environment, instead of freeing people to take more career risks, it ironically trains people to take even less risk. This results in reduced variance in outcomes. A generally homogenous, no growth country.
No matter if you think FAANG is evil, they’re going to continue dominating European lives unless you have talent and capital taking risk to innovate alternatives, and build your vision of a better world.
Unfortunately, in shrinking the possible variance in outcomes, the nordics become the best place on earth to be below-average, with exceptional success due to risk taking being penalized. It’s like begging your best talent to leave. Not everybody will, but some do.
So you have no top talent immigrating, and some top talent leaving every year. Over time you can see how that’s a dangerous trend.