Ahh, you're one of those nostalgia people who think League was once this great paragon of balance and everything was right. Maybe before I started playing in Season 1 it was, but from the moment I started playing and even as a new player to the MOBA world I knew it wasn't balanced.
The difference between Season 1 and now is that...
a) There were fewer champions so it was naturally easier to keep certain outliers under control at a faster pace than now---but make no mistake there were balance issues; remember release Xin Zhao?
b) the game was totally linear. Sure you could get Dragon and get some gold, Baron was a neat health/mana regen buff and gold, but it was very one dimensional in that the game never really broke off into skirmishes for side objectives.
c) Snowballing was still bad. This is probably the biggest misconception between old League (prior to Season 3) and now... First Blood bounty was lowered in Season 3 to 60% of it's value scaling up after 4 minutes as I recall. In fact, I'd argue that snowballing was WORSE in Season 1 than now because the catch-up gold that we have now didn't exist. If you fell behind, you stayed there, period. Could you get one shot in Season 1? Absolutely.
If you died enough in Season 1, you were literally worth Zero GOLD... and thus Proxy Singed was born... Riot had to change the gold bounty system entirely to nerf this unhealthy game mechanic.
Now, not everything about Season 1 was bad, in fact, it's why I fell in love with League... but the idea that it was this magical paradise that we should be clambering for... well... I don't see it. Don't get me wrong, I hate some of the changes and, yes, damage and mobility creep have certainly tarnished my enjoyment of this game also, but those are things that aren't changing.
Practically NO ONE wants 90 minute games. Season 1 had the longest games I can remember... some of them dragged on for 70+ minutes, now I suppose a bit of that is a function of the rapid growth of the game and the sheer volume of new players not knowing how to close out matches. Nevertheless, these are not things we want to see return.
The only thing from Season 1 that i absolutely want to see come back to League of the fucking Tribunal. I think the community was SIGNIFICANTLY better back then. If the community of today was the one that I encountered when I started playing in Season 1, there is no way that I would have ever stuck around. Luckily, I had a say in who stayed and who didn't with the Tribunal, now I have to rely on a computer to decide who the toxic members of hte community are... guess what Riot, it's not doing a very good job.