Elk is like a lot of family-centric ski areas in that they get very light crowds before the holidays. No matter how early in the season they open.
Their ski school, bar/restaurant/cafeteria, rental shop, ski shop (if they still have one) all cost more to keep open than they take-in during the slow days in early season. I'd put Elk in the same category as Platty, Timberline, Bellayre, Blue Knob for this. They're all more out of the way of big population areas, somewhat family centric, and there are other options closer to the population centers, all of which make a difference when people have especially busy lives leading up to the holidays.
The one upside is if the ski area has good snow making and top notch grooming early in the season, e.g., the groomers and snow makers aren't green and don't have to newly learn their skills as the season progresses, then the empty slopes and great snow conditions can be really excellent.