I'm pretty disappointed with the 50 elder limit -- I hadn't realized that there was a limit, and have been working very hard with my village making my villagers rotate activities and such so that they'd achieve elder status, only to discover today (after having four villagers master their third skill) that there's an arbitrary cap to the number of villagers who can ever become elders.
I'm ok with a cap on the number of totems (although that would also have been nice to know), as I agree that at some point you'd run out of room for them (much like the headstones), but the whole elder thing was providing me a reason to be active with my village long after solving the puzzles, as I was managing the career paths for ALL of my villagers to ensure they would eventually master three skills. Now it'll be like VV1, where I basically ensure I have a breeder and go in once a day to let them bury the dead bodies.
I kinda assumed, based on the leaderboard, that elders would be something we could continue to produce -- since they aren't, it would seem that the leaderboard for VV2 is kinda pointless, don't you think?