Would the game be better without the report feature?
I've been playing on EUW a lot lately and the best part is when people call you out for your mistakes. Sure it's a bit distressing, frustrating, and can be annoying, but really the best part is how it trains you to deal with playing under pressure and stress. When you objectively know you have assholes all around you judging your play. So when you get into a distressing situation you're rather used to the feeling and are able to perform at a higher level.
Besides, I think the lack of criticism and banter is a problem. The whole culture of the crybullies and SJWs is creating a world of complete pussies who don't know what to do when someone criticizes them even in a polite way.