Just the fact that Jiraya has lasted this long could mean that Pain's powers are overrated, at least the way he refers to himself. A God would have just done away with the lowly human intruder you'd think. But it could also have something to do with why Pain isn't using any jutsus.

I hope we get to see this sixth element, unless that was a typo mistake in the manga.
Jiraya going all out isn't the greatest of signs for his survival though. But I hope we get to see both some hermit mode and rinnegan in the next chapter.