I see it as:
-no invites --> As squirrel complained. Is this being 'elite', or is it just being stupid? because a tracker will die if not enough invites are handed out. I have never really noticed this happen except with HDBits maybe, and they seem to be doing ok cause there are so many users.
-invite app --> Completely up to staff discretion. To me this is absolute rule by an 'elite' group, if invites do not exist as well. But then I do see the point that anyone can attempt to join. Still, it's a few select people playing God in my eyes. Is that elite? Fuck if I know.
-invites --> Transfers the power in the userbases hands. I guess this is also 'elite' but spread over more people, cancelling out some of the l33tness. Really that term is such bs it will be interpreted differently by everyone.
-open signups --> Now you are bordering on being a public tracker. Definitely not elite in any sense.
By the way, not trying to say being 'elite' is strictly a bad thing. It just seems like a lot more micromanagement which means way more rewardless(?) work on the staffers part. Hopefully it pays itself off with a perfect economy.