I wouldn't necessarily say "home" or "away" because there's somewhat of a location custom that does not exist in eSports unless you count the country the tournament is held on. Say a team gets a "home" and "away" jersey. What's home? What's away? It's not exactly plug and play for video games in that fashion unless we're talking sports games which already have that in tradition. It just wouldn't work.
If it's colors that's the factor, even the boxing route could be disputed. Generally teams do have two specific color schemes associated with their org. The catch is that a lot of teams happen to dip into blacks, whites, or blues or their jersey variants could be misleading to the indicated overlay color: G2 for example utilizing a red overlay despite their jerseys sporting black and white.
I for one agree yet disagree with the OP. It's such a minor visual factor that shouldn't be too accounted for given its use for domestic competition in NA, EU, and LPL. Now if they brought said overlay to a competition featuring C9, CLG, SSG, AFS, H2K, WS, GIA, and whatever other blue logo team I'm missing, then we'll have problems.