Yeah elves use to be really unique. Elvish high magic was greater than any wizard could hope for. They see magic differently than wizards. Sometimes they invited arch wizards for greater rituals. It was considered an honor. Wizards had to be guided and just take in the experience since they couldn't "tap in". They also use to serve as guardians for powerful magic secrets and dangerous high magic area's like gates to dangerous realms. Sometimes some idiot would steal something and elvish assassins made that mo fo disappear along with all the research.
Elvish high magic was crazy. The elves even stole a literal piece of their heaven. Thats not even talking about trance, the feywild, and Corellon The elf god.
In bg3 they are just humans with pointy ears. With the constant dumbing down, retcons, and homogenization; I doubt we will get a chance to explore all the wasted lore. I gave up.Lol