@Riot, from the perspective of a player, your new lore direction creates a confusing experience!
Seriously, how is a new player supposed to know the difference between the new lore and the old lore? It's taking Riot so long to update the lore, that it seems like it is going to remain in this weird state of old lore/new lore both being cannon for quite some time.
Personally, I find the new lore direction boring and generic.
With the removal of Summoners and the Institute of War, I don't really find anything engaging about the world of Runeterra.
It's just a generic fantasy world now, there isn't anything that defines it beyond what you'd expect of a fantasy world.
I don't even know how to view Runeterra as a whole anymore! It just seems like it's a bunch of champions in different places doing different things! Different factions used to be connected through champion interaction...we haven't had much of that in awhile.
Sure, some of the champions are still interesting...but many of those are currently being re-written to fit this stupid retcon... which means that we would be foolish to get invested in them. Why get invested into something that is going to change?
Riot, have you figured out how you're going to pervert Jax's lore yet?
Seriously Riot, if your goal was to retcon Runeterra in order to make its lore more interesting, then in my opinion, you've already failed.
Runeterra has become really boring since the lore retcon. Champions feel much less connected, and it's hard to care about any of them when they could get retconned whenever Riot feels like it.
Why get invested?
It's just getting harder and harder to care about this game's lore.