I'm of the opinion that Elliott (& Bacjetic) should, at best at the moment, be 5th or 6th choice in midfield for us.
Both of them are worthy of praise and with the right coaching and physical development they could get to a place where they're elite-level premier league/champions league footballers for Liverpool, but I think it's wild to suggest that they are now. We shouldn't be in a position where they're both starting for us in the midfield, and we shouldn't be in a position where they're both regularly starting games at all.
They're not significantly more developed than Carvalho, but he's now getting very limited time in the team because we've got 5 top lads fit who can play where he plays (in attack). That should really be where we're at with these two. Especially Bacjetic but also Elliott.
If we fail to strengthen in midfield this summer because we want to rely on both or either of them, then I reckon we're fucked.