I still hate The Fragile, and find With Teeth the single worst moment of crushed hope and anticipation in my life (in concerns to NIN).
Elitist? I wouldn't term it as such, but rather say that it was too much of a change for what I grew up with.
Same thing can be said of other bands I have followed for ages: Marilyn Manson, Skinny Puppy, KMFDM, Flogging Molly, etc....
It's just my opinion. It's still going to sell, and people will praise it, but I am not about to agree with any of the praise.