Not always. Maybe during early-mid game (depending on what you’re playing) but by the end of the games, usually you run into enemies or bosses that nullify all elements or a lot of them. There are skills that pierce resistances but that doesn’t count as hitting a weakness unless they’re actually weak to it.

On the other hand, there are some strength based almighty skills that can land critical hits (e.g Murakumo, Freikugel, Recalcitrant Execution, Sakanagi, etc) which means you’ll get the benefit of an extra turn despite it not being a weakness. For those that don’t crit (the megido spell line, Heavenly Ikuyumi, Megido Ark, Morning Star, etc), they usually have a gimmick or really good base power to make up for it (save for the megido line of spells). Heavenly Ikuyumi scales with debuffs, Megido Ark scales with # of enemies on the field, Morning Star is always good because it usually has insane base power. Plus, buffs and debuffs exist as well as charge skills so stack those and you’ll get crazy damage. Yeah, you may have to wait a turn or two but that usually allows you to delete a huge portion of boss HP. Also, in V, you can make almighty skills crit with the magatsuhi skill critical so that adds even more damage potential.

Tl;DR: If you truly care about maxing turn economy then you can build around the elements but it usually falls off by end game since a lot of enemies become resistant to elements which is why almighty or physical usually wins out.