I agree that some deeply problematic issues have surfaced from the insights.
Swain had a unique identity before. The designer decided to re-imagine him by catering to the player's imaginations of what a tyrannical dictator should look and sound like, resulting in a bizarre Frankenstien-esque experiment where Swain becomes the epitome of every villain cliche in the book. We have Lucius Malfoy's head on Darth Vader's body with Sephiroth wings, speaking in stereotypical posh English accent. He's supposed to be a war general from Noxus, not the lead villain in a James Bond movie. Even the demon form looks cliche, like Mephistopheles, when it could have looked more crow-like to suit his original design.
The original Swain was also empowering - "crippled and yet more powerful than he appears." He had a physical handicap and it didn't hold him back. Of course it would be more difficult to be on the frontlines with a crutch, but the fact that he is there in spite of that is empowering for anyone with a handicap. Riot's "middle ground" just takes away from Swain's inner strength by fixing his physical handicap unrealistically (by magic). Part of what made Long John Silver from Treasure Island so scary was hearing the approach of his hollow wooden leg. Having one arm on a crutch at all times didn't stop Silver from mercilessly cutting down his enemies. That's what made him scary. In fact, the portrayal of this uniquely fearsome one-legged pirate was so memorable that it created the pirate cliche we know today. James Cameron's movie Avatar made the same mistake. The disabled protagonist had to become "normal" again (by transferring into an alien/robot body and recovering the loss of his legs) in order to save the planet. Then, in order to have a perfect fairy tale ending, he magically gets to remain in his alien body (which was supposed to break down) rather than returning to his disabled one.
Even worse, Swain became normal again by making a pact with a devil. Maybe that's fitting for a Noxian but the subliminal makes me cringe.
And finally the age thing. "Swain is the person on the frontlines leading Noxian troops into battle, inspiring and preparing the soldiers for war. It didn’t make much sense for the one leading the charge to be an elderly guy." Why not? He's Noxian. I thought they were the type who lived for battle, power, and prestige. They want to die on the battle field for Noxus, not retire and move to Fort Lauderdale once they start seeing grays.