...as for elements, they are "objects" which do not contain anything and which are indistinguishable, which fits space and time...
I can see nothing very useful in this concept. The Aether Wave Theory (AWT) is using so called the "unparticle concept", which was proposed independently
here. But the Unparticle physics is still nothing, what cannot be derived from common particle physics directly - it's just another view to it.
The AWT is using a following trivial insight: everything what we can see from the gas aren't the particle itself, but a density fluctuations of it. It means, during condensation of dense gas, we couldn't never see its particle itself, just a density fluctuations. And the AWT idea is: WHAT IF every particle, which we can see is just a density fluctuation of another particles, i.e. without any exception? It means - here's no upper or lower limit of particle size, every particle can be considered as a dense cluster of another particles: from gravitons to whole observable Universe itself. It means, here are no "fundamental particles" - simply because here's no meaningful physical reason to have some. Everything can be explained at the scope a few adjacent particle generations, which we are living in and it has no mean to ask about limits of such structure - simply because we would be required to explain them, after then.
Only practical limits (for example the speed of energy spreading) limits the size and the fractal dimension of the observable structures. Here are another limits given by curvature of the space-time, mediated by such structure: after some number of generation the space perceived would become formed by its own distant fluctuations (a sort of Uroboros or Klein bottle model) by the similar way, like the space formed by nested foam (i.e. foam, where each bubble is formed by another bubbles, recursively). But these small bubbles aren't small, in fact - they're just a very distant one.
In this model the observable structures are of limited size and they're created by itself. A practical realization of such system can appear like interior of black hole, which contains another black holes, recursively.
Motto: "
if you don't about reason of reasons, don't ask about them".
