Is League updated too often?

A major contributor to LoL's attractiveness as an e-sport is the complexity that exists in champion/item synergy, champion/champion synergy, and champion/champion interactions. The goal of the game is also very simple (destroy the nexus), while the path there is multi-faceted (rush objectives, make picks on enemies out of position, siege with poke, etc). To increase popularity and enjoyment of the game, it is important to keep many different strategies viable options for success, which means one single strategy should not be more powerful than another, and one single champion should not be more powerful than another. If one strat/champ is more powerful, it will dominate "the meta" and keep all other strats/champs unused even though they do exist in the game.

Riot has stated as a mission to keep all champs viable. Yet, for long periods of time we see single champions and single strats dominating both SoloQ and competitive play. Riot has also stated that they want League to succeed as an e-sport, which means they should move away from having a small group of champions kept viable. One potential problem when looking at this situation is that the players themselves are not able to handle the full complexity of the game. Therefore, the players tend to focus on favourite picks, which means they themselves lock into specific champs/strats not because it is technically strongest but because it is strong through familiarity.

If you look at other sports (not e-sports), what makes them successful is very similar to League: there is one simple goal (like scoring goals) but there is great complexity in the strategies to achieve that goal (e.g. football/soccer where you have the 4-3-3, 5-2-2-1, 1-4-2-1-2, etc). But one major difference between League and other sports is that while League is changed almost every month or every other month, other sports keep their rule system fairly consistent. With consistent rules, the players are forced to be creative and come up with strategies to counter the prevalent strategy (e.g. 4-3-3 in football). That doesn't mean the game never changes; there are some additions to the rules, new technology brought in (goal cameras), etc. But it is far longer between such "updates". This means the players have time to become familiar with the rules, examine all possible options, and if the game is indeed "balanced" then you will see a wide variety of strategies after a while.

Now I'm wondering to myself... Since there is already great complexity in the League... Are the frequent updates just too much? Wouldn't it be better to lock the game down for a longer period, and see how it balances out? And during that time, also do your homework at Riot and make sure that the coming update really increases balance rather than shifting the balance to new champions?