Sure, that's an appropriate explanation of the actual mechanism, but says nothing of the ongoing association between Elune and elfification. Elune is heavily associated with several night-elf-like creatures that aren't night elves, and obviously heavily associated with the Well and night elves themselves. The actual reason for it could be because of worldsoul energy, but the same would apply to Elun'ahir so it tells us nothing of whether Elune is responsible for the haranir or not. All we know at this point is that titans don't have elf ears and most things associated with Elune do.