make the game better for the majority, not the elite
Most of the players are not competition class. Many of them don't care two cents for ranked ... lot of them in fact. I'd think that if you take those that don't play ranked, and those that aren't gold and above, you would have a vast majority of the players.
So Riot, forget about the minority of your players, and design the game for the majority.
Forget what works for "higher levels" and shoot for the median ... I'd be willing to bet that is where you make the most money. Those that are high level won't be hurt by that ... other than you'd have to stop gearing the game to how they want to play. Gear toward your market, not your fringe.