The Delta Reserve card does not come with complimentary Delta Medallion elite status.
The card does offer a faster path to qualification with the ability to earn Medallion Qualification Miles towards elite status by spending on the card. It also offers a waiver of the Medallion Qualifying Dollar requirement (MQD) needed to qualify for elite status by reaching spending levels of $25,000 for all levels except top-tier Diamond elite which requires $250,000 in spending to waive the revenue MQD requirements.