Honor doesn't seem to have enough impact
So I got booted down to honor 1 a couple months ago and made it back to honor 2 pretty quick after I stopped playing ranked entirely. So my opinions aren't based on being honor level 5 or 0, hopefully excluding bias or ulterior motive.
As it stands I think honor doesn't send a clear enough message. We see occasional loading screen flairs, but we don't have a clue as to what they're for. Did the guy carry his games and get honored for it? Does he main support and get honored for some good plays? Does he get honored for comebacks? Or does he simply get honored for being nice to people in the face of defeat?
Ideally it would be great to see different honors weighed differently. For instance, I feel certain honors would be harder to earn in Ranked than in Normals. Behavioral honors would be worth more where there are stakes in defeat and triumph. Tracking lifetime honor, adding statistical relevance to it in comparison to others, and adding more diversity in honor expression might help people not constantly forget honor even exists.
It doesn't have to be all about the free stuff. Exclusive emotes that highlight your highest honor category, that change colors based on how much honor you have received would be great. If a player really is really good at carrying, he'll get an honor separate from honor given to those who are good at being carried, supporting carries or just keeping the team chat cool. You don't own the emote; it is conditional based on honor.
Allowing for more diversity and a more complex honor system would make honor less of a superficial function. I totally think people that carry should definitely get something for it, but I think that shouldn't impact other honors. I've met some people that are honor level 4 or 5 that were really difficult to play with but were individually good, and it threw me off guard because I was expecting a more amicable teammate.
Honor tanking for a punishment should be diverted in a way. If I get a punishable report against me but it doesn't trigger a punishment, I'd like to be notified that I should take a look at my actions, with a chat log from the game that triggered a hit. Obviously I don't want lighter or less punishments, but when I did get punished it came in chats of three. A pop up would remind me to cool down. I'm not excusing lack of self-control. I just think we can do better about allowing positive affirmation and a tap on the shoulder to spur us into self-reflection.
Thanks for your time and let me know what you think would help you treat the honor system as a more active component in your league experience.