Respectfully this is a lot of opinion not well founded in fact. Riot is an extremely profitable company. They've obviously given the laypeople the opinion that they're a small company, but they're not.
Also, their own studies have shown a player like me who on average spends anywhere from $250+ / year are not the players being reformed, as they typically are the non-toxic or neutral players. They are also about 80% of their user base. So that would make the 14 year old toxic player you mentioned fall in the 20% of players that spend less than $20 a month with Riot, and hey account for about 90% of their reformed player base.
So again, I ask, if a majority of us are non-flaming regular players who just want a good competitive game and some cool skins, where do we fit when we stop spending money with Riot. I currently have 14 friends who have boycotted RP based product and all spend $20 / month on content, similar to a subscription type game. What happens when that 80% of players base starts to erode, as it currently is. For just my friends that's $280 a month in revenue lost. $3360 a year.
Tell me, maybe not you personally, but you know of players who have stopped buying content. We're only continuing to add to Riot's operating cost while eroding their margins, simply because they don't want to, or are unable to, provide a higher quality product in regards to in-game gameplay (i.e. Competitive matches, no hate speech, no homophobia, and no AFK / Troll)
Again, S2 until now and I only go maybe one or two games before I have a silent griefer, a toxic teammate, a racist or homophobic teammate.
5 years is too long for no progress in my humble opinion.