I feel like there's some disconnect between what we're told about Edward and how he actually appears in game. I don't think Elsa is supposed to be wrong about him, but from the player's perspective she is imo. "Nice" was probably the wrong word, but I also don't think she's right about calling him naive.
I think jaded is a more apt description of Edward. It seems like he sees every social interaction as a trade deal. Elsa doesn't really change his mindset, only his hair cut and clothes, but rather reenforces his jadedness, because it's supposedly a prerequisite to making it in the corporate world.