Time to dial back?
Maybe I'm the only one, but I think it's high time that Riot began deleting obsolete champions, rather than constantly working to balance them. Each patch brings balance changes, but only to certain champions, and certainly nowhere close to the number that would be needed to keep EVERY champion a relevant choice. In addition, every new champion increases the "investment cost" of new players, who have to learn the abilities of every champion in order to begin to play competitively.
What I'm proposing is a community-led effort to retire a champion for every new champion released, keeping the maximum number of champions at 110 or 120 or so. This will keep Riot from having to constantly maintain balance for champions which came out ages ago, and gives new players a realistic goal to become relevant to the community.
This could be done by riot nominating 10 or so champions to retire, with a community vote to secure the final decision.
Edit: Maybe the maximum number should be higher than what I proposed, but I still believe there should BE a maximum. There are too many irrelevant champions right now.