I enjoy the fact that the Elves look alien and otherworldly. It helps sell the idea of them as a strange race of others, more in line with my idea of the "steal your babies in the night" Fae, rather than the typical "Aryan ideal perfect humans" they're usually portrayed as.
I only wish they had done the same with the Dwarves. Dwarves should be something terrifying you want to chase away at the point of a pitchfork, not some short Scottish soccer hooligan you'd want to have a pint with. Maybe they could be blue and spit venom.
Why? Because it's interesting. Elves and Dwarves as traditional fantasy tropes are so mind-numbingly boring.
That said, I have no vested interest in Larian lore or continuity, so I understand why some people would be more interested in keeping things familiar.
