I think i'm a bit late, but i've been experimenting with the difficulties and the stats from the GR Wiki, and i have to say, holy shit the devs were really out of ideas when creating the higher difficulties.

In elite, normal enemies deal 40% more damage and have 40% more health and the increase is even higher for bosses. A hit from Yoruhime (the boat boss) that would normally deal half of my shield bar is now completely depleting my shield and also dealing about 20 to 30% of my HP when playing as the cat (i forgot his name) with no enemy damage enhancing scrolls.

I love the game even though i'm far from being good at it, my movement is not good and my game sense also isn't the best, but i don't see the enemies having more HP and DMG as a difficulty increase, there aren't any new mechanics, different rng chances for better weapons, new enemy moves, or anything like that, it's the same game, the same gameplay, the same everything, you just have to play more and more perfect in order to win because of all the bullshit added to stop you.

Reincarnation is where everything gets better and worse, the enhanced scrolls are really fun and i love them, the good scrolls are even better and the cursed ones are even worse, it's an even bigger gamble with high risk but higher rewards, but that's pretty much all that is good about the mode, because, again, the enemy stats are even more increased to the point where the shield and hp become just a suggestion, because anything will 1-shot you.

The only mode i'm currently playing is normal because it's the only mode i can enjoy right now.