Most emotes should cost RP and not IP
I want Riot to survive as a company. I want Riot to survive without charging for gameplay aspects of the game. That means they need to charge for cosmetics. Emotes are cosmetic. Therefore emotes should cost RP for the most part and only rarely be available for IP (like the random emote sets that will be available in the Blue Essence shop next season)
Only change I think should be made is to allow the champion emotes (dance, taunt, joke) and mastery emotes to also go on the emote wheel.