No one is actually asking for a hand out
Saw a Rioter comment on a post where he classified people's demands as hand outs (as in demanding something of unreasonable value). I was puzzled as I've never seen one of these demands. So let's get real here: Obtaining IP in this game takes ages. When someone has dumped 30-40k+ IP on runes that translates to a lot of hours played. Buying runes provided people with a sense of progression. The new system evens out the differences (which is a good thing, don't get me wrong), but completely invalidates the effort these people have put into your game. Classifying this frustrating notion as "asking for a hand out" is an insult. No one's asking for a full IP refund or 10 skins. Anyone with a brain understand why Riot can't do that. HOWEVER, this does not mean you cannot make one or two skins OR something of equal worth for this special occassion and give to the players who's been here for who knows how long. It would cost you next to nothing and would provide people with a sense of being appreciated. Heck, even a special border or something of the sorts would be enough.
I do believe asking for a little something is MORE than reasonable. It's not really just a matter of appreciating your long-term players, it's also to respect that fact that people have spent a countless amount of hours to obtain runes and try out different playstyles only to get their efforts wiped. Simply replacing it with another system without giving anything noteworthy in return goes against my basic sense of morality.
So ya, just my 2 cents.