Sounds like there may be a cultural colloquialism involved, in the same way that "defensive systems" gets used to refer to rockets and artillery in the West.

More like "Peace Master" if you had to translate it loosely.

和平 = Peace; 精英 = Elite. So yes, that's the literal translation. They're probably trying to give the game a up beating vibe by using that name, so it's easier for it to be approved by the government.

"反恐精英" on the other hand, should be translated to "Counter-terrorism elite". But "反恐(Counter-terrorism) 精英(elite)" itself is a non-literal translation of Counter-Strike.

Counter Strike was translated as 反恐精英, where 反恐 meams counter terrorism. I have no idea how these elite things came into play.

Yes, it's accurate.