It really depends on some pretty subjective values held on faith, that position, power, and profit ought to be shared.
The question is why elitism is wrong. Your statements rest on whether that perception of elite status is wrong. Well, if that is ever resolved, is elitism wrong or not? Ought power, profit, and position be shared?
Then the prototypes get handed off to the main engineers to run with, and support is provided. By the time the thing sees production usage, the original inventor has long since moved onto solving other problems on the horizon.
Praise is attributed to the last and loudest to have touched a project. Innovators are deeply satisfied by that and don't need the praise because it actually gets in the way.