risk/reward

Riot talks risk/reward, but if you can have a champion that has high survivability (regardless of how) and high damage (either as damage over time, or burst) then you have a champion that has no window of vulnerability. Especially if you add to that cc. If a champion has high survivability, it should have little to no damage. If it has lots of damage, then it should have little survivability. One or the other, but never should it be possible to have both. That means even late game, if a champion can build damage, it should actually reduce survivability. Tanks like darius when fed (and yes, lots of champions when fed are op and need to be nerfed ... but that is another discussion, not this one).

Another ... range vs damage. Varus is stupid for range/damage. His q range can be more than 1600 ... vision range is not that far, and it isn't even his ult. Add to that the increase?? in damage for range, and you have a no window to attack if he just stays away from you, builds enough mana to push q attacks all day long, and it even hits multiple champions, not just the first. So in aram, he can fire a q every few seconds, and wipe out minions and take a quarter of most champion's health. Nidalee is about as bad ... 1500 range. And both are stupid in that the longer the shot, the more damage it inflicts. No projectile, bullet, arrow or even rock, has as much damage at long range as it does short. Even a laser loses energy to heating the atmosphere as it travels. Projectiles do less damage the longer they travel, not more. So should it be in league.

Balance requires that risk and reward be present in all champions equally. It can't be just in the choice of team composition ... that doesn't exist in ARAM and that mode is just as important as ranked.

If two equally fed champions go toe to toe, it should be nearly impossible to tell which would win. I don't believe that is true at this time; but it ought to be. Anything less is not balance. Anything less is not risk vs. reward.