If you compete at the Olympics you are are automatically called an Olympian. If you are an Olympian, you are considered to be the very best of the very best, these people are often called elite athletes. Elite, means that something/someone is as good as it gets.
Elite Olympians do not compete for money, they compete for respect and medals. There are three medals on offer at the Olympics: bronze, silver and gold. Gold is for the very best athlete. If an elite athlete wins an Olympic medal they stand on a podium to receive their medals while singing their national anthem.
Olympian = An Olympic Athlete
Elite = The Best of the Best
As Good as it Gets = There is no Better (The Best, Superlative)