why is Riot NEVER doing anything about chat unless it's "homophobic" or telling someone to go commit suicide anymore?
They are, but you might not be seeing the results directly.
The popup that comes when someone's been punished because of your reports, only shows rarely. Even more rarely when it's not severe toxicity such as the things you mentioned like hatespeech.
A single instance of flaming and blaming just rarely gets anyone punished. The system is lenient enough that people can have bad days, and you should also consider that. People most likely aren't flaming you because of personal reasons, but because they themselves are having a hard time.
Of course this doesn't excuse their behaviour. If someone is consistently toxic over multiple games, then they'll get hit with punishments. Punishments that escalate untill an eventual permaban.