Honors don't feel rewarding
Honestly, every time I get an honor, I don't feel as satisfied as I should be. Most of the time, I just X out the notification and forget I even got honored. They just feel like numbers and not much else and it's kinda sad because it's one of the few ways a player can reward another player for being a good example to the community. If there was some reward or satisfaction that honors give other than just numbers on your profile, it would probably give people a reason not to be as toxic. Because of how little significance they hold, some people just forget to honor those who where truly friendly, helpful, or hardworking. This sometimes includes myself, I meet someone nice, forget to honor them, and just move on with another game.
[Edit] Another thing to point out is how sometimes the enemy team might honor someone for feeding them, or helping break the other team apart for an easy win. Say team 1 is doing well, and someone in team 1 decides to break them all apart and starts being toxic, causing them to lose. Team 2 becomes aware of this and says "Screw it, let's honor that one guy in team 1 that helped us win!" Doesn't happen too often, but it still is a thing that happens that shouldn't.