Why the game is not balanced around low ELO play
It is quite simple. What may seem balanced in low ELO, would either be A) super abuse-able in high ELO/ PRO play resulting in many champions/items/etc... being either perma-banned, or first picked by necessity, or B) they would be unplayable because they are too simplified or "Dumbed Down" to be relevant in higher skilled play and/or so easily countered that it guarantees a loss if picked.
Let me explain. Low ELO is where your have new level 30 players, your passive players, your "its just a game so who cares if we win" players, your trolling players (well more of them at least), your casual players", etc. Basically your worst of the worst in terms of skill level, game knowledge, and desire to improve can be found here in excess. Mostly everybody here does not have a full and detailed knowledge of all the ins and outs of game, its mechanics, and strategies that high ELO and especially PRO players have. Some players may not know that X champion does Y or that building Thornmail on Ashe is a bad idea. They think X champion is broken because it 2 shot them but fail to realize that they are 5 levels under them with 3 less items which is why they can 2 shot you. These players also do not farm the best. No where near 10cs/minute which some PROs can manage.
So if we balance around them, then champions/ items/ etc... will have to be over simplified in order to compensate for an assumed lack of knowledge and skill on the player's end. However, those who do have that knowledge will have a massive advantage over those who do not, and especially in pro play, since champions will be super straight forward, complex strategies, synergies, etc... will no longer work as well as just pick the 5 most OP champions and say "fuck it were 5 man mid for group fighting the entire game" because of how broken and "unbalanced" those champions would be (maybe a bit extreme but you get the idea).
They balance around a higher, but not top tier ELO because while yes it is not where the majority of players are, it is where most of the skill is. And it is not at the very high ELOs (challenger, master, and pro) because what would seem like a huge nerf/buff to them would sometimes mean nothing to us low ELOs where that thing is still broken/useless.