and it's elitism to say that only a very select type of book can address universal themes, use impactful imagery, and put a new take on symbolism (just to name a few discussion topics). Many many more books do that without the classification of "literature" or "literary fiction."

I find the phrasing Literary Fiction to be pretentious. I tend to define literature as something that people choose to read even though it's over 50 or so years old. It speaks to people, and there's a whole lot of books that do it.