There's so many good WRs in the league. Does the elite tag even matter?
You've got Marshall, Green, Fitz, White, Johnson, Smith, Welker, Wayne, Thomas, Wallace, Colston, etc.
Not to mention the TEs that are glorified receivers like Gronk, Gonzo, Graham, Gates, Davis, etc.
These guys grow on trees. They're a dime a dozen. Most teams are bound to stumble upon one of them. There's even guys with horrible QBs like Bowe and Stevie Johnson who would probably dominate with a good QB.
At the end of the day, we're probably better off using our limited salary cap paying for the best QB and defenders we can get.