I think there was talk for a while of introducing some sort of 1-v-1 map that would take place in a fiery place, but I really don't know much about that concept, and it was quite a long time ago, so I think it's all but discarded by now.
That said, I think it's a fantastic idea. I suppose my biggest concerns would be that there might not be much of a way to implement this idea in a way that would be exclusively accessible to the players who want to play on it. That, and it might feel kind of weird to have essentially reskins of the same map as it would then give us multiple summoner's rifts? Like that makes no sense in terms of Lore. However, I think it might be possible to work around either of those problems by incorporating the lore into how they build maps moving forward, for example using the Crystal Scar as the base for the Ascension game mode or the Hollowing Abyss for Poro King.
I might be interested in seeing a feature where they assign a nation to either side of the game, perhaps making blue side represent Demacia, and red side represent Noxus. Might get a little cluttered when blue side plays Draven and Katarina while red side is playing J4 and Garen, but there might be a reasonable workaround for this in the Lore, especially with how the summoning of champions works. I think they could provide a decent enough framework for the characters and nations and summoning process where this makes sense as a game mechanic, and I think it could really help people connect with the game they're playing, even if they don't personally get too invested in the lore.