Nice theory but fails in practice.
I get honor maybe 5% of games. Doesn't matter how regularly I get camped by the enemy jungler and still go even or win lane despite getting no help from my team. Doesn't matter if I'm a support who salvaged a losing lane, got mid so fed they carry the game, and set up the perfect 5 for 1 teamfights at cost of my life. Doesn't matter if I am the only one who didn't feed and has a positive kda and got map objectives while everyone else got nothing and we lose the game only having killed 1 tower (which I solo killed) and I do the most damage in teamfights while also tanking 4 fed enemies for my team. Nobody gives honor.
Someone on the team ints half the game, you sacrifice your lead to get them back to even, you go out of your way to help everyone else, you speak the truth even when it hurts but also encourage good plays by teammates and give them recognition, and you get nothing. Not a single honor.
I've maybe gotten 2 instances of 2+ honor in a game. And one of them I went like 11/1/7 and hard carried - getting a losing midlane fed, snowballing an even bot lane, and getting my jungler crazy ahead. All while having been camped by a fed kat and enemy jungler for most of the laning phase and getting maybe 2 friendly ganks.
Just because you don't have a ton of people giving you honor doesn't mean you don't deserve honor; just because you have a ton of honor doesn't mean you were deserving of it or the ONLY one deserving of it.
Like that 11/1/7 toplane game I mentioned. I told my support she was the real mvp. Because she was the one teammate besides myself who ALWAYS put the TEAM first - sacrificing herself multiple times to save other people who may or may not have put themselves in stupid situations. If not for her, the game would have been a lot closer and potentially would have flipped against us because jg, mid, and bot got arrogant and fed away a ton of kills and objectives and delayed grouping to break the enemy base. All three threw multiple times, but thanks to janna and me getting them fed also had epic moments which deserved some recognition. Like a squishy jungler diving in with me to clean up a 2v3 and shut down fed enemies early/mid game when our mid was still behind. I say this not to highlight myself, but to show that many people can deserve some honor, yet not get any official recognition for their performance. And that is why your proposal fails in practice. That others can do half of what I did in this game and regularly get 1-3 honor while I perform better than them yet go unnoticed... That the janna in this game could play so selflessly and yet get only 1 honor and our jg, mid, or adc got an honor while performing much less amazingly than her...