The Ersatz Elevator is a symbol of Dr. Montgomery's deception and manipulation. He uses the elevator to trick the Baudelaire orphans and other people into believing that he is a wealthy and powerful man when, in reality, he is nothing more than a con artist. The elevator also represents Dr. Montgomery's desire to control and dominate others. He uses it to keep the Baudelaire orphans trapped and to prevent them from escaping.
The Ersatz Elevator is ultimately destroyed by the Baudelaire orphans, symbolizing their victory over Dr. Montgomery and their escape from his evil plans.