So I'm going to go ahead and assume that League pulled a CS:GO rank reset.
People are ending up in lower division, thus making the higher ones more of an achievement and not a walk in the park to achieve... well for now.
I like this.
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The highest achievable rank through placement is plat 1. This shoves everyone diamond 5 and above to plat 1 and below, which subsequently shifts everyone originally in plat 1 and below down a full tier.
I think it's mostly to remind people that sit at the same division all year that they can still climb.