You state that the system is highly accurate, but I disagree. I think that the system contains many flaws. Can a system be perfect? No. I do understand, and recognize that Riot has been taking strides to improve the system. I appreciate this, however, I disagree with many methods of how it is facilitated.
I am a player, and forum moderator on another massive online game, a middle school teacher in real life, and I have been deemed "toxic" in the past due to being reported after giving some constructive feedback to players. I have never used profanity in the game, and would consider myself extremely mild on my worst days. I have seen firsthand that being "gang reported" by players can lead to chat restrictions. I find it so ironic that on one game I'm considered a "community role model" and "ambassador", and then on another I'm considered "toxic". I have also had numerous "ribbons" on League of Legends for teamwork, honorable opponent, and even the gold one for "leadership" and have probably close to 2,000 "honors".
Riot's system isn't perfect. I understand that players who are falsely reporting in theory should have their report values dropped, however, I am not confident in how Riot is facilitating this process. I understand the information that Riot has published regarding their report policies clearly. I also understand that they state that action is not taken against innocent players. After seeing a player get a chat restriction for making yordle jokes in the "all chat" for being considered "annoying", and a player receiving the same punishment for making homophobic jokes, I think the system is flawed and needs to be reworked. I'm encountering toxic players in almost every single one of my ranked matches, and I don't see any evidence that something is being done.
Riot's reporting system isn't perfect. They are revamping it and trying to improve it, however, there is alot of work that needs to be done. There are many inconsistencies, and there are situations in which players should not be punished or should receive a different type of punishment. I think Riot's "campaign" against toxicity needs to be examined, and facilitated differently.