I have a good feeling about the upcoming big patch.
Ultimately I think the correct thing to do would be to split up infantry differently.
Dividing pikes into a gold and trash version of each, like AoE3, and making the trash version do no elephant damage only cavalry, and the gold version doing more bonus damage to both cav and elephants.
Have the gold pike do better regular damage as well but no pierce armor, and swordsmen get a bit more pierce armor.
Dial back the regular halb.
I have this organized well of course.