Difficult to say how Elite status boost is calculated.
Only thing that is fairly certain is that, it is by and large a luxury investment.
Seeing that little in the would require it and no additional benefits are gained be it skill or gear cost, or adult content or outfit.
The game would benefit from skill growth in that area. So that Elite made some more sense.
But as things are, that is likely the lest pressing concern it has, since all things equal Elite does sort of somewhat work.