Should the honor system be updated?

Nobody likes to honor people. Well, of course some do. Still, you can get a great S rank and you get 1-2 honors. Sometimes none, even if you're friendly and all.

Should there perhaps be more to this honor system? Like, IP boost if you consistently get honored (less/no weight from those you partied with) Or something of the sort? I know they gave you a summoner icon for not getting in trouble one time but that's the same. The honor system exists but I feel like it's very underrated.

Make it mandatory to select one teammate and one opponent for honors? What are your thoughts?