Wood Tier
No, I'm not trolling.
I realize this may just exacerbate the problem, but I tend to not think so.
Obviously there's a lot that can be done to improve skill assessment at a deeper level than just w/l. In a team sport w/l is wildly ineffective at accurately assessing individual performance. We've known this for generations. Look at sports, there are quite a lot more statistics we use. It's indicative, maybe even a leading indicator, but not THE indicator. There needs to be more, much more. I've made long posts about this before, we can discuss in comments.
Here's my concept. I suggest adding at least one, but hopefully two, tiers BELOW bronze. Look at the distribution of players, far more than half are sitting in the bronze/silver tiers. That's unacceptable. That's like the majority of the class getting F's and D's. And it causes a steaming pile of mixed skill which is highly irregular and encourages this random casino environment known as 'elo hell'.
Please Riot, consider developing the ranked experience to better serve your majority audience. Because, honestly, this audience is the foundation that will grow your esports empire.