No. They are entirely too aware of what their playerbase wants, this is the exact reason you see them TRYING. No one can say they are not, but all can say their efforts are not working.
Why?
Because the issue is not their finger on the pulse of the community. They already know. The issue is they are intentionally taking this game in a direction that is different from their players because their players are no longer the group they need to appease.
Make no mistake people. If Rito and LCS hit their stride as a true e-sport in a similar, but larger vein as SC then their -players- are irrelevant commodities. Skin sales will not even be a blip in their income from tickets, sponsor, the team's franchising, there are JV teams across the country for this shit and colleges are beginning to offer scholarships for this!!
It doesn't really matter how accurate their assessment of the playerbase's woes is because they are not following a path to fixing those issues. Those issues are not in scope for where they are taking the game. Players need to realize that now and act accordingly.
I see so much anger and frustration on the boards and it all is a symptom of an unmet expectation and no one is coming out and shining a light on that. Riot IS definitely trying to bridge that gap, but players need to identify the writing on the wall too so the real conversation can be had. It isn't "Rito doesn't listen"; it's really "Rito has bigger fish to fry".
I feel confident in this because i'm a player too. Not high elo mind, but i even play on LAN, alongside my NA accounts. I hate the changes they make also, but i don't ever find myself outraged because it makes sense to me they would want to focus on making the Esports side "better", so to speak. It makes sense why they'd feel "hmm, on the one hand, skin/cosmetic sales made up a huge portion of revenue but those are not always reliable. Having an international presence as a competitive sport that has us partnered with and sponsored by the biggest names in tech AND also shit like established colleges, artists and other industries? Duh - let's make changes that strengthen that position, instead!"