The direction of the honor update feels painfully tragic for all but Riot
So basically I was getting honored just about every game at first. It's to be expected. New toys, felt like christmas, and everyone felt somewhat generous. Now that the shiny bauble is losing is luster (many still wondering why they are still stuck at honor 2) after a week or so, I am starting to see fewer honors for games I am doing just as well in, maintaining a good attitude in. I'm not saying every game I deserve honor, but there is a clear drop off after just one or two weeks. So what happens if the trend continues and the new system becomes just as stagnant as the old? Now that key fragments are completely tied to honor, if there is no honor, there are no fragments. If there are no fragments, you have to spend RP to open those chests. Interesting little by product of a system should it fail, because if it does, Riot benefits unless people decide to not buy key fragments to open their chests. I'm not certain this was their intent, but the outcome seems fairly likely.
tl:dr
New honor system takes too long to level up, key fragments dependent on honor, honor rate is likely to continue to drop (blame this on lack of positive feedback/no user incentive), key frags then can only be bought.