But yes. Having this sort of gameplay stifles player choice. Am I going to specialize in Fire Magic if Iknow that my opponent can just start chunking out troops with Amulets of Fire Resistance? No. I'm going to spread my research out so that I'm not focused in one area that can easily be defended against. End result? Everybody uses all the elements more or less equally. Boring.
Not really... Sure, split up your magic research so that you can dabble in all the elements, but if you do that no one will have to start churning out "amulets of fire resistance" to beat you. No one will be afraid of your magic because you'll only be able to achieve minor feats in any of the elements. Whereas if you focus on or two elements, you might be capable of accomplishing devastating effects. So the enemy troops are wearing pansy little amulets that protect them from 6% of your fire damage... It's not like your volcano, or even your fireball, all of a sudden isn't gonna work. Not to mention that there are different types of mana for each element, so spreading yourself too thin across all the elements even when you don't have a good source of some of the mana types would probably not be so smart.
The ONLY way this becomes a problem is if it's easy to mass-produce equipment with high magic resistance, but the obvious, intuitive and easy solution to that is to make such equipment rare and expensive.
On the other hand - if there is only one magic type, with only one associated resistance, then what happens if your opponent starts churning out units with magical resistance? Then you're just entirely screwed, and no matter what your magical focus, your magic has just become useless vs. them. That seems like a problem. (Although it also has the solution of making magical resistance equipment be rare and expensive, and only partially effective).
Saying that magical damage types stifles options is completely ridiculous. It's even more ridiculous than saying that tactical combat will be trivially simplified if they don't give us magical damage and resistances types.
But this is Elemental. It's a game that focuses on magic. If there are no damage types, then there is less differentiation between spells of different schools, there is less flavor to the game and there are fewer strategic options when it comes to combat magic. And that just seems like a huge mistake, because a huge (huge) percentage of the people who will buy this game will be expecting magic to have a deep and interesting combat representation.
Just to restate examples others have already given, and to give a few of my own: without magical types and resistances, how do you make it so that fireballs don't affect fire elementals? That dragons take minimal damage from fire? That Ents are particularly vulnerable to fire? That a desert-dwelling human faction has some minor natural resilience to fire due to their acclimation to the desert climate? That troops wearing hot, heavy armor won't be as bothered by a chill wind as the guy in light leather armor next to him? Resistances are not necessarily something that will only affect a rare creature here and there. It is possible to make them that way, and i that were the case I'd say it's still worthwhile - just have resistances not show up unless they're nonzero!