Instant Feeback System is a joke and Riot knows it
The reason behind this is that there is only two types of people.
- Those who never report anyone and
- Those who report almost every person who breaks The Summoner's Code
The first one is more common.
The first one has more valuable reports because the system thinks that it's the ideal amount of reports you should do. But that doesn't matter because they never report anyone. The second one has almost worthless reports because the system thinks you report everyone for no reason and just abuse the system. That makes the cycle of nobody getting banned ever unless they have something serious like they int for 10 games in a row. But basic toxic people still exist and are not getting any kind of punishments.
I am the second type and I have gotten 2 times the message that "a player you reported has been punished". And I have easily reported over 100 players.
Now why does Riot do nothing to make the system more decent like in most modern competitive games? It's hard and would cost a lot, unless they would make a community driven system like the "CS:GO's Overwatch" where high elo players could judge if the reported players would be worth bans.
PS. LoL is known as the most toxic game in the world after CS:GO (which has voice chat). It would be easy to remove toxicity, so why not?