These concepts are great in theory but the more you dilute their implementation the less meaning it has. At this point; why include elemental strengths & weaknesses if you're going to soften them to the point of not mattering in the first place?
FFXI as an example you began to only use your most powerful spell regardless of it's strength/weakness to a particular element because the more powerful spell still did more damage than the "right" spell. After this trend happened for awhile Square implemented a decreasing return on consecutive same-spell use so even if you did use the "right" spell it yielded increasingly less damage and you were forced to ignore the Elemental Wheel.
People seriously don't think about this topic at all when it's brought up or the trends it encourages in play style, group composition, or what fixes it will then entail.
Yoshida put a a metaphorical bullet through this particular issue's head by just eliminating the mess before it could happen.
FFXI; and it's weird little Element Wheel that eventually was entirely disregarded for most content.
http://www.oocities.org/returnersls/images/elem.jpg