From Dictionary.com:
Elite: The choice or best of anything considered collectively, as of a group or class of persons.
The best of the best! Right now Eli can't even be considered as one of the top 5 quarterbacks in the league. And you can't include a guy who can't even crack the top 5 quarterbacks in his own era as one of the best to ever play the game! He's not even the best quarterback to come out of his draft class, and probably isn't the second best either.
What's going to happen in a couple years when guys like Matt Ryan, Cam Newton, Andy Dalton, and Matt Stafford all have a few seasons under their belts? Or what if Rivers or Romo end up winning a Super Bowl?
My point is that Eli hasn't done enough to clearly be considered one of the best right now, and with all of the incoming talent at the position, it's looking likely that he never will.