I think the theatre is quite appropriate for the timeframe, and the timeframe itself seems a clever move given the long pre-order times for naval technology and new ship classes themselves, giving the devs a good opportunity at a fairly realistic unit composition. We'll almost certainly see new armoured vehicle classes not currently in development in 2030, more than likely we'll see a new class of multi-role fighter or two coming to completion, but the chances of a company/country turning around a whole new major surface combatant (CV(N)/CG(N)/DDG) from initial (official) enquiry to operational hulls in the water in 18 years is slim.
Re the Iranian theatre, as nielsenkc and JanH touched on, with the USN having at least a carrier group at immediate readiness, as well as their and the Royal Navy and Marine Nationale's DDGs/FFGs down there, not to mention the sizeable air complement in Afghanistan, suggesting that a conflict would last beyond the NATO forces first barrage is very improbable.
Much the same with the Falklands Islands area, the Argentine's ARA have but 4 light DDGs and 3 aging SSKs in terms of full combat ships/subs, of which 50% or less are likely to be readily deployable. The RN alone have 3 SSNs (1 which is brand new), 5 DDGs, and at least 7 FFGs readily deployable with another 2 FFGs on extended readiness. It wouldn't provide much of a challenge to any player or give the game any longevity I think!
After seeing the live stream I think having the major surface powers of the world come to blows in the arctic region is quite fitting and should make for an expansive game experience.