The issue is speed, Riot needed to sacrifice some things for game speed.
While Plat- rarely ran into a 10 min+ timer they were very common when Autofill and the other changes where not implemented into matchmaking.
When draft was just like the pro scene where you couldn't duplicate ban, the time from ending a game to starting a new on was on average 10 minutes, which is a long time. With the fast bans, autofill, reduce game start time etc.
This had been cut in half. My personal record of a long Q was ~45 minutes. While re-implementing drafted bans will not increase it to an unreal level again, most players do not put any thought into their bans.
I personally ban only Vayne I rarely ban any other champion since I just hate playing against a champion that I cannot build resistance for. I don't care if she is META I dont care if my team wants something more (most times). Most players have that champion as well Yasuo/Riven/ Pyke/Zed etc. The only thing that having this longer ban phase will do is make it worse on time.
Additionally there are some players that truly enjoy playing those champions that get banned a lot like Yasuo. Having this system gives them a slightly higher chance of getting their favorite champion.
Just my 2 cents on the matter. I think the banning phase is fine.