Of course, Elder Wang could not imagine what Zhang Yi was thinking, so he at least was reassured that Zhang Yi seemed more motivated to be stronger than downcast, which was good for Zhang Yi and the sect.
Even if in the future for being stronger Zhang Yi could kill a Sacred Phoenix Sect elder it was still possible for Sword Sect to defend him, just as Zhang Yi said only if he did something very wrong or broke some taboo that he would have to be dead.
Even so, this might not really be true because Sword Sect could argue that Zhang Yi was the only one able to find members of the soul eater's infiltrator organization and that could save Zhang Yi from death.
Of course, even if he could do that Zhang Yi would not want to because he would be forced to spend a lifetime going to other sects trying to find undercover members of the organization if he wasn't killed by someone in the organization while doing this.