Usually, if you ask someone whether they thought the feudal system of the past was fine, where kings and queens had the power to literally do whatever the heck they wanted to the general population, while looking down on them and calling themselves superior, people usually condemn it. Funny, because eletists are the exact same thing.

It's an exclusively negative term. Good, experienced and constructive players don't feel the need for self-proclamation of their own significance. Truth to be told, you're nothing but an ant on the world map.