Ranked play (who has the better nerf)

Ranked play has become a game of "who has the better nerf account." This policy that people can have multiple accounts has become so toxic to the entire League ranked community. When will Riot take this seriously and stop it? How many players does Riot have to lose? How much money does Riot have to lose? Everyone thinks this is a problem, except for the 1% of top players that this game is revolved around.