The difference in quality, reliability, featureset, and native platform integration between Element and Discord is night and day. Discord wins in all categories other than "you can host it yourself".
Can you elaborate on what is missing from Element with regards to feature set and native platform integration? What is wrong with Element's quality in comparison to Discord?
Element works well for small group chats. It is not suited to hosting communities like Discord is.
Are you familiar with the new Spaces feature? If your concern is the ability to have many rooms linked under an umbrella, Spaces deliver that.