First of all if it's open source and secure it doesn't matter who made it. The instruments of capital will bring about it's own destruction and all that.
My problem with Matrix/Element is that it's shit. My online friends put up with it because they're privacy nerds but my IRL friend group all said that it's shit. They've mostly moved to WhatsApp and I can't blame them, because it works. Heck even some of those privacy nerds prefer to use the IRC that's bridged to our matrix chat.
With Element, notifications hardly work, sending files doesn't consistently work, calls are definitely not reliable. And they do not bother to make a stable bug-free version, instead they focus on adding even more features for the next release. There's an issue from 2016 that's one of the most liked and requested features: multiple accounts. They closed the issue, and opened another one they can ignore. By now Element should be a stable piece of software and it's slow and horrible. And I say this as someone who hosts two separate matrix homeservers.