The MK games don't directly say "this religion is wrong, this religion is right," they just don't address it (similar to comic books).
I guess if you were TRYING to explain religion and Mortal Kombat, I've come up with a couple of explains for you:
1.It's a game/movie/tv show, so don't worry about it (pretty self-explanatory)
2. The elder gods are simply really powerful aliens who have been around for a LONG time and declared themselves "rulers" over the universe (similar to the Green Lantern's Guardians of the Universe in a way)
3.ALL major religions are wrong.
4.Maybe there is an ALL POWERFUL God, and these elder gods are just lesser-powerful ones (polytheistic)
That's all I got.
Well, I've got news for you pal, you ain't leadin' but two things: Jack and sh*t and Jack left town
Oh jeez does everything have to be about Christianity there're other religions out there you know? Also why do you automatically assume that Johnny Cage and Sonya were raised in Christian households they could've been Jewish for all we know. But to answer your question no your precious little sky father who can't create a better name for himself isn't an Elder God since the god characters of Mortal Kombat are based on Asian mythology.
Wow someone's parents didn't hug them enough as a child! First of all Turd Brain: our "little sky father" towers over your ass. You're the size of an ant compared to him. Secondly, he didn't pick the name of "God", his real name is Jehovah. Early man just dubbed him God because he is the one and only deity in the universe. So take that you religion-bashing bigot.