Still, Elizabeth would be somewhat boring as a protagonist. She doesn't work well on her own. Part of what makes her so great in P3 and P4A is her reactions to everyone and everything around here.
Yeah, I agree that I don't know if her role in the story would be as remarkable if she was a protagonist compared to if she assumed a role analogous to the one she has in P3 and, specifically, P4A. Then again, Social Links and such playing as Elizabeth reminds me of how energetic Maya was in her interactions and that has its appeal.
I don't actually think she will be the one in P5 and I want the cast to be composed of new faces, but I was just saying that we really don't know what P5 will end up being.