When you compare the price of Elements to that of the full Photoshop, you have to conclude that Elements is excellent value for money. Elements must have around 80% of the functionality of Photoshop for about a tenth of the price.
What you don't get are layer masks, channels, paths, colour range selection, and CMYK colour mode. However, Elements has a great set of tools for correcting colour and tone (including adjustment layers), and all the filters, brushes and selection tools that you expect. It comes with Adobe Camera Raw, which is excellent, as are the options for converting to black and white, correcting camera distortion, and previewing changes to selections. Elements supports a large range of file formats and is compatible with files made in Photoshop.
I do have some complaints - not about the features, but rather the installation and interface. Elements uses an installer which installs applications and creates folders without giving you any choice. For example, Adobe Stock Photos installs even though Adobe has discontinued this service; you have to download an uninstaller to get rid of it. My other complaint is, instead of running in a window that you can move and resize like other Mac applications, Elements fills your screen and is fixed in place. Neither am I keen on docking palettes into bins - it seems to leave less room for your images.
Elements falls short of the elegance of my other Mac applications, but has an excellent set of features.