I really like playing as an elite however, i dont really like playing invasion (its just not my cup of tea). I do however REALLY like covie slayer but its so rare that even if it does come up, most people just vote against it.
 
Could a playlist dedicated to Elite only players ever work? Is the population that would find this appealing too small?

I don't see any reason why it would not work, the elites play the same as the spartans. Chances are its probably going to be DLC or a special weekend playlist.

They are going to add and tweak playlists as time goes. I'm all for more playlists! Personally, I don't really like Elites that much.

From what little I've played of Reach MP I can't think of any difference between the elites and the Spartans. The idea that people would actively veto being elites never came across my mind. 
Thinking upon it further, it's possible that people don't like the elites because the players have spent so many hours getting their Spartan customized whereas the elites are always generic looking. 
In that case elites vs. elites will never be popular. Sorry.

I hope it gets its own playlist so I don't have to ever play it again. Elite Slayer annoys me.