Correct, the dimmers/fixtures don't care what is sending the signal as long as it's being sent. Is it worth it? That's a question that can only be answered by you and by what you prefer to use.
I am experienced only with the Expressline of consoles, but I have an Enttecdongle and use MagicQ for movers and LED's. If I were programming conventionals only in a cue stack for a theatrical production, I would choose the Element. It's the right tool for that job and would be easier to program and run, IMO. I've run movers on MagicQ and conventionals on the Express in the same show. They each do their own thing well.
I wouldn't scoff at using the element for movers and leds if you're doing a basic sub and cue stack show. It has the same virtual interface for intelligent lighting as its big brothers. Now, if you're attempting more complex moving light programming, or looking for multiple cue stacks, then the element will start to fall off in usefulness.
No scoffing, just an opinion. The point I was trying to make was not that the Element won't do movers, it's that MagicQ is cumbersome for theatre style cue stacks. I stand by my statement that the Element would be a better choice for an all conventional rig in a theatre.