I'm not sure I would say elegance is the main feature of Rails, but I think productivity is. IMO nothing out there beats Rails in terms of productivity on a new project. Phoenix is clearly inspired by Rails, but if you'll permit me to pull a semi-random number out of my ass I don't think Phoenix will ever be able to do better than about 80% of Rails's productivity. Some things are just not as simple (for example, just due to the nature of things Ecto is not as simple to write with as ActiveRecord is).
That said, I've totally moved away from Ruby on Rails and over to Elixir/Phoenix for my stuff. I absolutely love Elixir. So far in my experience I'm finding it more performant, easier to maintain, but a little less productive to write in. But still plenty productive enough.