I don't know if it's so much Peter Jackson as Tolkien himself. Reading the novels, you begin to observe a pattern: Elves are better than humans, dwarves, and hobbits at everything they do. Elves are wise, elves are fair to look upon, an elf lord can frighten even the Nazgul, elf liquor can stop people from freezing to death, Legolas can shoot down a flying Nazgul in the dark of night, elf cloaks provide better concealment than a ghille suit, etc.
I'd say that Tolkien is the elf fanboy, and Peter Jackson is just building upon Tolkien's preferences regarding fantasy races.