First, the lore:
The Universe was formed when ice and steam collided and created a cesspool of matter and energy. Ymir (the primordial giant) emerged from this as did Buri (the grandfather of Odin, Vili, Ve). Odin, Vili and Ve dismembered Ymir and created the cosmos from the pieces of his body. From the creation of the Universe sprang both the material and the spiritual. Men and animals are beings of the material world, wights are the beings of the spiritual world.
The role of gods:
All men are material beings. Some become leaders to fill a role. All wights are beings. Some become gods to fill a role.
The gods didn't create the Universe from nothing, like a certain separate and removed God. The gods are as much a part of the Universe as everything else. A natural evolution from the primordial. They were wights, and as the Universe grew they stepped in and took charge by putting the cosmos into order and deciding to lead. As evidenced by the lore the gods didn't know everything. Odin called forth the Volva to give him knowledge, he hung himself and gained knowledge of the ruins, he learned seidr from Freyja. All in the effort to lead, to know, and to understand. And in doing so, they took on the role that we know call 'gods'.
It kinda makes me chuckle thinking of Odin, Vil, and Ve walking along the beach in the world they had created, amazed at their potential, inspired by the possibilities, and high on the thrill. I can picture the brothers coming across the two 'logs', looking at each other and all three thinking "Dudes. Should we?" and then like reckless kids full of excitement they create mankind by sharing with us heart, mind, and spirit.
Or maybe....they hid pieces of themselves within man for safe-keeping?
