At the end of every season, we see the same arguments about how punishing people with loss of season rewards if they're below Honor 2 at that time is unfair considering that people who get punished earlier in the season have an opportunity to work their way back into good standing. It's gotten so bad that Riot is making a [one-time change to how this is handled](https://boards.na.leagueoflegends.com/en/c/developer-corner/TGYs0hwO-2018-end-of-season-rewards-and-honor).
I would argue that's still unfair, especially when you consider that end-of-season and the period between seasons tend to be really chaotic and tense. You're asking people to be on significantly better than average behavior at the time when it's most difficult to keep your cool. Add in the stress of this one-time deal and things are going to be rough.
My solution would be that you earn whatever rewards you're entitled to at the end of season, but _**you can't wear any of that flair at ANY TIME you're below Honor 2**_. I feel this would be an excellent incentive for improvement and would feel more even-handed than the current system. In fact, having a ceremony where you regain all that content would probably feel amazing.
EDITED FOR CLARITY: Under my proposal, you would "lose" all ranked rewards for all seasons whenever you dipped below Honor 2. You would probably gain a quest to get to Honor 2 and regaining that content would be the reward. This would be a relatively easy thing to add to the client, at least in my opinion.