I have put thousands of hours into this game between rp purchases. In comparison to dozens of other games that I have paid for in my lifetime I have gotten SO MUCH more value and gameplay than something that I paid the normal upfront $60.00 for.
I may be in the minority, but when I make a purchase as a donation. Similar to donating to a YouTube content creator. They provide value to me for free upfront and I decide to give back and pay for something just to show my thanks. No the game is not perfect but in terms of consistent content creation and updates for 6 years now, I couldn't ask for a better game.
Refunds should be for something that is not functioning properly and is overall not a quality product. Demanding a refund for your IPhone 6 because they came out with a 6s a year later is not justified. The same goes for wanting a refund for a skin because the champion fell out of flavor, the skin went on sale, or a new skin came out. They are quality products and you shouldn't be entitled to a refund because you saw something else new and shiny. That's why they produce new content to encourage you to buy. That's how they make a living.
Also for all the people saying "it's not real money, it's just rp being refunded." If they give you back RP that means you will not purchase more RP. That is how their business model works. You purchase the virtual currency. So giving the players that virtual currency for free whether as a refund or giveaway etc is bad for business.
YES Riot is out to make money. So is anyone else who has to work for a living. In the past year especially we have seen huge changes in content that they push out. Much of which (like free new game modes, cool videos and cinematics, or events) isn't even for sale. MOST OF THE CONTENT THEY PRODUCE IS FREE!!!! The fact that they provide refunds to your account at all is a huge gift. Why is it such a big deal if you pay for something every once in a while?