There's several reasons, many of which have been answered already. But one reason I don't see mentioned is Level Advantages.
If I have a higher level than you (whether it be from killing you, zoning you from xp, farming more efficiently, etc), I ought to be able to win a duel with you (ceterus paribus). If stats no longer increased with level (including armor), Level Advantages would be less meaningful.
Trivia
One interesting oddity that was inherited from Dota is Attack Speed Growth. You'd expect the formula to scale linearly. But the formula is actually polynomial. However, the formula's parameters are tuned in such a way that the formula is extremely close to linear, to the point where the polynomial scaling is pointless. Riot could simplify their engine by linearizing the formula with negligible effect on gameplay. That is,
as = (as_per_level) (7 lvl^2 + 267 lvl) / (400) + items + runes + buffs
is practically identical to
as = (as_per_level) + 1.79 + items + runes + buffs