I prefer state to protect children from their parents... Elon Musk is perfect example of this. "X Æ A-Xii" is just a joke... And exactly type of name that should not be given to children...
To be fair, this kid will be in social circles where being maximally exotic is highly valued. It will probably never see a normal school from the inside.
Don't get me wrong, I don't particularly like this name, but you have to see it in context (just like a traditional Icelandic name would be fine in Iceland, but not so much in the IS or Germany).
Nothing wrong with "Elon" I agree...