Blog post: It has now been resolved and Element is back.

element.io/blog/element-on-goo…
> At 2021-01-29 at 21:35 UTC Google suspended Element [ . . . ]β€Œ We submitted an appeal asking for clarification at 23:18, and at 05:31 received a generic update [ . . . ]β€Œ
> As of 11:44 UTC we’ve submitted a detailed appeal [ . . . ]β€Œ
> At 2020-01-30 23:17 UTC we received a call from a VP at Google [ . . . ] some extremely abusive content which was accessible on the default matrix.org homeserver. Our Trust and Safety team had already identified and acted on this content [ . . . ]β€Œ we've explained how Element and Matrix works, established a channel for communication over any future moderation concerns [ . . . ]β€Œ
> The app is restored as of 2020-01-31 00:30 UTC. [ . . . ]