Renewals for 4 elements are going to be available in 2 months. Eidolons of a given element are also somewhat interchangeable; most will give you at least 30% character attack, which isn't ideal but it'll tide you over until the next renewal.
The flip side of this is that there's definite opportunity costs to rerolling now or in the future vs. sticking with your initial team; you're missing out on weapons, eidolons, and free event SR kamihime. Rerollers aiming for water teams, who missed the Garuda and Jorm events, are going to be hit particularly hard. And if they miss Gabriel in the next event, Water element loses quite a bit of its potential.