Having a third party standards body slows things down, so they went for their own process (based on a non-profit org), which is still rather inclusive.
About Element being non-free: that's not quite true. All versions work with just free software, the only times when non-free software is used as a dependency it's because of platform restrictions forcing it (1/2)
well, I'm not the only one that evaluated the #Riot / #Element project. You can of course ask the directory for another review provided there is justification.