They definitely need to make bronze 1 a more real possibility as a result from placements (and equally gold 5).
I think they're both possible. I saw a smurf go 8-2 on his first placements and get gold 5 (yet when i went 8-2 on my first placements i got silver 1). I'd also imagine 0/10 or 1/9 is fairly likely to get bronze 1. I would have much preferred to have an extra 10 placements and be placed more accurately than end up silver 1 and proceed to lose 8 of 9 (whether it was because of something i couldn't identify that i was the problem or because i just got terrible luck with teams, idk... i decided it would be best to just stop playing ranked for a few months though).
The problem is though, anything from 3-7 wins will (and should) land you somewhere in silver because that's average. No matter how bad you are, you're probably going to get at least 3 wins just by being carried. Unless you're insanely good, you're not getting more than 7 wins without some good luck (in my 8-2, i had at least 3 games where i couldn't have lost even if i tried, my team was just that much better [although i was winning my role hard too]). It's a team game and unfortunately it's too hard for Riot to identify which players were more responsible for wins/losses. There almost needs to be a voluntary "rate this player: in this Tier, at least 1 Tier up, at least 1 Tier down" and if there are overwhelming results (like over 80% in one direction) move them in that direction. It's a lot easier for players to identify who's good and who's not when they're playing with them.