I don’t think Elements is the only reason for drop in popular tracks list and new items, but I certainly think it’s the biggest reason. The fairytale about a whole new market focus is getting old. Maybe this will happen if Envato starts advertising on YouTube, which I truly hope.
But for now, this is what’s happening:
Source: 2018 Envato Annual Public Impact Statement
Notice the word “switch”. Also notice the aggressive advertising everywhere.