The system is good for "new" players. Riot understands new players as 1-30 players. For people who have just hit 30 and still own small number of champions the new system is not a good thing. To be honest, it is slower than IP. They are stuck with the champions they have already, because either they accept random champions from shards (in my case, usually 450 IP champion shards, or one shard from 6300 pool which is for a champion that I never wanted to buy anyway) and use the pool of BE received for old runes (which most of the people have already spent thinking that the new system will speed up the champion acquisition process), or they will spend months grinding levels trying to get a champion they want from 6300 pool if they want to buy the champion in traditional way.
I personally believed that we will be getting regular amount of BE as equivalent of IP every game, and ON TOP OF THAT, we will receive capsules for each level. And this system made me come back to game, expecting that finally I will be able to try new things.
The system would be less faulty if the players, at least, had some sort of choice, like an option to choose between the shards we receive.
To be clear, I will not spend real money to buy champions. If Riot wants to earn money for champions which we can't get in a regular way, count me out. I understand that the game is not in its hayday, but instead of looking for new ways on income, they should try to improve the product to make people interested in it.