I don't have any personal experience with the Jabsco Lite-Flush; in fact, I haven't even SEEN one yet, other than in pictures. But what I do know is that the Raritan PHII is vastly superior to the Jabsco 29000 series manual toilet, and the Raritan SeaEra marine toilet is vastly superior to the Jabsco 37000 series electric toilet. So if you compare the Elegance vs. the Lite-Flush head to head, I'd have to lean toward the Elegance, based on how other Raritan products compare with those made by Jabsco.
Admittedly, the PHII is more expensive than the Jabsco manual toilet, but it will also outlast the Jabsco manual toilet by about 3 to 1. Plus, you can just buy the "LBA" (lower base assembly) for either the PHII or the PHC head, which consists of just the base and the pump; you transfer your existing Jabsco bowl and seat from the old unit to the new replacement - they're interchangeable! You can knock off a fair percentage of the cost by doing it that way, and you still wind up with virtually a brand, new head.
With the other lines of toilets and all the pricing myths set aside, the SeaEra and the Elegance are quite competitive, costwise, when stood up against their Jabsco counterparts.
A couple of things I can point out is that everything on the Elegance that "shows" is ceramic. The Lite-Flush has a plastic outer jacket on it, with only the ceramic bowl in the center, where you can't see it unless you lift the lid. So what you see when you look at it is more akin to a plastic hammock. In fact, they're trying to capitalize on the fact that they have a toilet that doesn't look like a toilet... Also, it isn't offered with the larger, household size bowl and seat.
My sense is that they're going primarily after the sailboat business, as they emphasize the fact that it is light in weight.
Because I draw my paycheck from Raritan, I admit I'm biased toward Raritan products. But I try to be as fair as I can, and I don't deliberately knock the other guy's product; sometimes the other guy's is actually better than Raritan's. But I think you'll find that the general concensus from the other RO's here on the Forum is that quality-wise, Raritan is better than Jabsco, albeit sometimes more expensive - but not always...