So you see a Bomb, and to defeat it, you use...
Fire?
Come now, SE, this is Final Fantasy. You use Blizzard to kill bombs, not Fire. Fire heals bombs, and yet in this game, elements (or "aspect", as the tooltip calls it) means abso-freaking-lutely nothing. Thunder? Earth? Wind? Don't care. Potency is where it's at.
What's the point in elements? Just to justify the elemental materias and reduce the likelihood to get vitality and critical materia?