Ranked Decay sends the wrong message
Take this example scenario: Someone plays the game somewhat seriously for several months, and is super excited that they make it into Gold tier. After working their way halfway through Gold V, they get a new job halfway across the country and shortly after moving their wife has a baby! A few months pass while the focus on the more important aspects of life when finally their life calms down and they boot up League again. They're super excited to get to play some more, and after a few non-ranked practice games to warm up they go to look at their ranked. This is the point where they are told quite bluntly something I don't think Riot means to be saying: "If you want to take part in this non-professional competitive arena, you must not let life get in the way. Each time you do, we will punish you." Well since this person did let life get in the way, and they know life may get in the way again, you have essentially told them, "This game is not for you. Don't even bother with ranked."
Now I understand in the top couple tiers things are extremely competitive, and without the decay people would sit up there without worry, and that you don't want this. But for everyone below platinum, the decay does not say "You still have to play games to keep your high and prestigious rank." It says "if you want to keep the results of your hard work (play), you must put League before all other life events." I'm fairly certain this is not the message you mean to send to 90% of your community.
What I would propose is simple: get rid of Ranked Decay for everyone below Platinum (or Diamond) tier. Bronze, Silver, and Gold tier players are not so prestigious that it matters if they sit on their rank for a few months. It is also true that truly serious players will still find time to play one game a month even in the most demanding times in life. However, the large majority of your player base are casual enough to where having a baby, moving across the country, taking care of an ill family member, and focusing on school for the few months before finals will take precedence over this game. In fact, the person who forgoes studying during finals week to keep her ranked stats up, or the guy who makes his wife wake up for the ump-teenth time when the new baby starts crying because he needs to get that ranked game in before he decays... these are the people you are catering to with ranked decay. So unless you mean to send the message that League is more important than Family, School, Work, and life in general, I highly recommend that you stop punishing people that have their priorities straight. I know for me personally getting thrown down a couple divisions killed all desire in me to bother with ranked. I know I felt that I was punished for taking a few months off while I lived in an apartment with bad internet reliability. I look back now and think, "Had I just played even though I would have lost internet during half of my ranked games, I'd have been better off." Of course, playing ranked games when I know there's a high chance of losing connection mid-game would infuriate a lot of people in the community. So if you don't want to eliminate lower-tier ranked decay from the system, please answer me this: what message do you want us to take when we drop divisions (or tiers!) because we let life get in the way?