While I understand the rationale (and see the value of getting more stuff onboard as carry on), if the main purpose of boarding early is to claim overhead space, it just points to the underlying issue of airlines allowing too much stuff onboard.
Oversized bags does not fit the overheads depth-wise, and stowed crosswise it more or less uses one whole overhead stowage space for one travellers stuff. If that is the perk awarded to "elites", then airlines should in all fairness limit the carry-on for other travellers. For example tell non-elites they are only allowed carry-on if space allows it or by adding fees to carry-on. If it is done that way, at least expectations are set correctly on before hand, and we all can evaluate if this is an airline we want to spend money with.
Not sure why one "elite" should be denied his allowance of carry-on because another "elite" took it first, though. Maybe that is the punishment you get for going to the lounge
Airlines will save some money forcing all "elites" to stand in the boarding area 45 minutes before take off...