I am not so sure they are being elitist, they are simply focused on art blades. There are many collectors who would not be interested in Kanebo, Takada, Sue Koto in general, waki-mono in particular, flashy Shinto and Shinshinto, and certainly nothing post Sekigahara. There are collectors who will have nothing to do with anything made during WWII or later. There are all kinds of collectors with all differing tastes and financial resources.
Have a read of the Yamanaka Newsletters some time and you will see the traditional high brow Japanese approach wherein smiths like Sukehiro, Shinkai, Masahide, Naotane, etc., are poo-pooed as second rate or worse.
Iai-to are not made to the same standards as "art swords" as I have said. To people who are into the art in "art sword" they are like other lowly rated, practical blades. For people into the practical aspects, they will find nothing wrong with them. I haven't met anyone who collects iai-to but there may be those that do. In the long view, they will take their place alongside the other practically made blades as mentioned above. They may never receive the respect and adulation of the finer art swords, but they will have their fans just the same.