So ban elbows because they cause cuts, which can lead to doctor stoppages? I've never bought that argument. Any good punch / knee to the nose could cause the same damage - maybe a little tougher to pull off than a top control elbow, but too bad. The rules are the same for everyone.
As somebody mentioned, elbows provide a counter to wrist control. Could potentially be a significant advantage to BJJ fighters on their back, as they could control wrists and not worry about an elbow.
Besides, I don't know many fighters who go into a fight looking to win by doctor stoppage due to cuts. The intent for pretty much any fighter is to win by KO or submission.
Finally, if there were any newbie fans that were "turned away" by what they saw in this fight, they wouldn't have been fans for long anyway. Only a matter of time before the next bloodbath (they aren't all due to elbows), or before somebody gets their arm snapped again.