Definitely has room for potential. For now, the combat system is WAY too complicated to not have a tutorial or on-screen info for the different elemental attacks and block. I couldn't keep track, and had to keep checking back to this page for the info (as it wasn't listed on the itch.io page). I feel like you could have done just 3-4 elements, and the effect would have been the same, but that much simpler. With the "combo attack" system, I could definitely see combat playing out like something akin to "The Legend of Dragoon", but with an elemental twist. Would be cool to see, if you decided to continue with this project.
The music seemed a bit loud, but that's adjustable, so ultimately not a problem. However, it was interspersed with totally silent dialogue scenes. Kind of jarring.
Solid graphics for a jam game.
Minor/personal inconveniences: The player moves a bit too fast for my liking. Moving slower would allow the player to take in the environments you're working so hard to build. Also, the in-game dialogue system is a bit slow, but if you press Space to try to "fast forward" the text, it just skips through and closes the dialogue box. Kind of annoying, but just requires more patience.
This idea may have been too big for a game jam, but definitely has potential. And considering the time-limit, there are definitely going to be flaws. Still, the prototype is solid, if a little too complicated. I'm sure it took a lot of work, and it shows.