It would be nice to hide elements from the elements panel. As a Figma user, I naturally want to be able to turn on and off layer visibility. It would still render out in the published site, but just while designing I think this could be helpful, especially when overlapping layers with relative placement + z index.
Thank you for submitting your idea!
To clarify, are you asking to have the ability to change an element to Display:none, just like you can in the Display section of the Style Panel, but directly in the Navigator as well?