Maybe. Avoided it. Went to Mývatn instead. Turned out that it means midge-lake. Spent 2 days eating flies. They didn't bite but weren't tasty. I've never driven the fuck out of somewhere so quickly.
Well, Myvatn is basically on the other side of the island... Cam only recommend the non-Blue Lagoon hot baths and tubs, easily as good and a lot cheaper.