Do you want 1000 random links from the internet or 10 ordered blue links on Google?
Do you want to send your child to a "mediocre" school or have them operated on by a "mediocre" surgeon, or do you want them to go to the best schools and have the best medical care?
If you are an investor, do you want to invest in mediocre companies? If you are searching for work, do you want to work at a middle of the road place? And if you are an employer/entrepreneur, do you want anything other than the best employees?
Everyone is an elitist when they are doing the selecting. Some people don't like it when they are on the other side of the selective filter. But let's not kid ourselves, elitism is not an "undercurrent" and it's not objectionable by any means. It's the whole ball of wax in any functioning society.