The Godai is read from the ground up:
Void
Wind
Fire
Water
Earth
these are the elements
However another version of the elements:
Metal
Wood
Fire
Water
Earth
this version can be seen in the Gotonpo of Ninjutsu - the elements of escape.
The 5 elements appears in the Western mysticism as well - the 5 elements are a big part of pagan and wiccan symbolism.
Ths is similar to how the number 3 pops up - the torite kihon sanpo, how we have 3 ranges in serrada, and 3 drills, each with 3 moves.
And in wiccan, the 3 aspects of The Goddess which relate to the 3 phases of the moon. In Christianity the Holy Trinity Father Son and Ghost.
Again, none of these symoblic metaphors are too be taken too literally, they are to help build a model of consciousness for understanding of technique and tactics.