It seems like there is a wall in reliability with getting chemical rockets much more reliable than about 99% - 99.5%. SpaceX and Blue Origin are doing cool things, but I don't see them being any more reliable than previous generations of chemical rockets.
If an elevator could provide more 9s of reliability, that could be huge.
But cost is also at issue. For cargo, it might make sense to take on 0.5-1.0% risk versus the massive investments necessary for the development of a space elevator.
And when we're talking about human spaceflight, consider the work SpaceX and Blue are putting into in-flight abort and propulsive landing - SpaceX's Crew Dragon should be much safer than the Space Shuttle, for example.
If an elevator could provide more 9s of reliability, that could be huge.