Drop from honor 4 to honor 1 wait what ?

You didn't have a bad day, you had several bad days that stacked up to getting your restriction. This just happened to be the "bad day" that triggered the proverbial Camel's Back getting broken.

Yeah, that's how it works.

Yay... even honor5 people are not immune to being penalized.

If they displayed the consistency / severity for the system to deem it to be punishable, they will drop down to honor 0 / 1 as well.

Look at this other way. You can get all rewards again. And no, you got chat restricted for flaming other players, not for having a bad day.

Take a sec and imagine how the system would work if it didn't function like this. Gaining honor levels would essentially work as a buffer against being punished for misbehavior. Honored players would be able to sacrifice a bit of their honor level in order to flame other players, which is not a decision that Riot would or should want to place in the hands of the players. Rather, any rules infraction dips you to honor 1 at least. Seems very fair to me.

Yea. It really sucks. It's more tilting than the chat ban even.

i droped to 1 just for having a bad day.

No one has to care if you had a bad day. Keep the bad to yourself, or get punished. That's how it works.

be thankful you didn't drop to 0?

When punished, your honor takes a massive drop, that how the system works.