Biodiversity of sphagnum bogs is one of the richest and less studied, while these ecosystems are among the top ones in ecological, conservation, and economic value. Recent studies focused on the prokaryotic consortia associated with sphagnum mosses, and revealed the factors that maintain sustainability and productivity of bog ecosystems. High-throughput sequencing technologies provided insight into functional diversity of moss microbial communities (microbiomes), and helped to identify the biochemical pathways and gene families that facilitate the spectrum of adaptive strategies and largely foster the very successful colonization of the Northern hemisphere by sphagnum mosses. Rich and valuable information obtained on microbiomes of peat bogs sets off the paucity of evidence on their eukaryotic diversity. Prospects and expectations of reliable assessment of taxonomic profiles, relative abundance of taxa, and hidden biodiversity of microscopic eukaryotes in sphagnum bog ecosystems are briefly outlined in the context of today's metagenomics.