Matchmaking Placement Bug

Can the community get an explanation for all of this placement madness thats going on? We were told that there would be a soft reset to our ratings which based on other MMR system for video games means that our hidden mmr is the same (still play against the same level of players ) which then means that uncertainty in the system should be fairly low still how is it then that so many LoL players have been experiencing ridiculous League/Divison drops ive seen and verified through match history multiple accounts of this? Is Riot afraid to point out there was a mistake? Unable to tell us straight that its "Working as Intended"? Either way the community as a whole would like to hear from a Rioter about this so we at least know whats going on.