From that logic this means there are only two sides:
The trolls, and the snobs.
This logic is that a ten year old has. A "kids rule, parent's drool" mentality. This mentality is brought about because of how a child views their actions. They view their actions as "fun", because at the age of ten common sense, and reality, aren't much of a worry. Other people do not matter to a ten year old, for they do not care if they make the other person cry, or ruin their day, because they are just ten year old children having fun.
However, this entire "honor trolls" is disgusting. It isn't "trolling", "trolling" is a name people gave to people who use bad behavior to either annoy some one or ruin their day. The term "trolling" has been use too much, instead of calling it blatantly what it is. The term "trolling" implies that the person knows what they are doing is wrong, and purposely doing it for the simple satisfactory of ruining people's days.
While League of Legends is a game, the amount of time I have wasted because of "trolls" is more-so than the time I have spent actually playing the game. You either get your trolls who spam, and feed. Or the ones that don't talk, and take your lane and don't leave until you do. Or you get the ones that swear everyone else is worse than them. Then you have the people who come onto the forums and make "troll" posts (kinda like this one? Because nothing you said sounded serious at all), flaming about a character that needs no nerfs, or calling the users garbage, spamming the forums.
That kind of behavior is not a positive thing. When people sit down to play League, they are devoting hours of their time to try and win, or maybe simply just to enjoy the game. Given no option to leave a match when a troll arises, it is unfair on the people who are playing the game to be competitive, or to play the game, to have to sit in a forty minute match that they could care less about because a team mate has chosen to be a toxic player.
it is little wonder why the other team often honors the troll
That is because the other team was handed a win.
Who would I rather hang out with? Neither. I don't play this game to be social, I play it to play it.