But it is fun, aside from the bots. While an overhaul and relaunch would help sway general perception away from "loldominion," the most common complaint has always been "Nothing ever changes."* There's certainly some areas that could use improvement (e.g. Personal Score, Greater Relics), but the core gameplay is pretty solid. It's just that Riot has only ever given the bare minimum of support, at best. Years of nearly no change tend to erode players' confidence in the developers.
A massive overhaul might bring new players in, but that in itself is just another short-term solution. Without consistent support, the exact same situation would happen again. SR-tier frequency would be too much to ask for, given the playerbase size differences, but hearing "Oh, right, you guys are still here" every 6 months gets tiresome.
*Well, that and "Nothing to work towards." (i.e. ranked)