What's the point of Vanguard Elite?!

Like for real? What's the difference from just the regular lvl 4 besides a useless Leaderboard and wasting your time? The rewards are not not better, the charms drops are not better. Just did 5 Elite 5-6 runs and got 5 charms all were lvl 8-9!!! Its just a waste of time to do Elite. Anyone has different observations?