Honor needs a drastic overhaul. Riot can do better.
The system needs to be more reactive to give you a more real-time assessment of your behavior. Why don't we make every valid report tank your honor progress immediately, set you back a checkpoint, and have low honor ranks auto-chat restrict? This way people aren't taken completely by surprise when 3 games build up and they're nuked down all the way to honor 1 or 0, which feels terrible and is not deserved if they are a generally positive person who just had a bad day. Everyone makes mistakes, and the system needs to be more tolerant and merciful of good people who slip up. Then if you tank your honor to zero and into negatives, you start handing out bans. Right now Honor is not a measure of how positive a player you are, but is merely a measure of how long it has been since you have been punished. It's all based on time, not how many games you make awesome like it should be. Someone could be ten times as positive as you, play ten times the games you do, make ten times as positive of an impact on the game, and you'd level up at approximately the same rate. It's a very low resolution, overly simplistic system that is too obscure to incentivize climbing and effort, as well as too stingy with its rewards to justify that effort. Look at all the free shit HotS gives away. Riot could stand to do better than key fragments.
I don't think anything of honor 5 flairs in pregame, and it seems like most of the time they are passive aggressive assholes who just know exactly what they can get away with. IFS is ineffective at reducing toxicity so long as the offending player knows how to game the system. Such a player often is able to bait a response from people who aren't so careful, and is able to bait people into suicide without any repercussions. Context doesn't matter, which isn't justice. We have different punishments for first and second degree murder for a reason. Same outcome, but we consider one to be worse than the other. Likewise, defending yourself against a passive aggressive asshole should levy a much more lenient penalty than calling someone a down syndrome scumfuck autistic retard for dying twice in lane.