What they really mean is that there is FAR too much gold given out. This is a screen cap from 15 minutes into a championship match in season 1.
Notice that not a single person has a completed item. These days at 15 minutes people are sitting on 1.5 completed items. Notice that support builds? Supported used to function on around 30-40% of the gold income of a laner. Now they run at about 80%. That's why you see stuff like support brand being able to 1v1 an ADC and generally win. Season 1 support couldn't 1v1 an afk guy. They were SUPPORTS. They SUPPORTED their team.
THIS is what we miss Riot. THIS was your game.
Let's compare that to 15 minutes into a season 8 game.
Notice the item bloat?
It only gets worse when you take in the new tower plating. 15 minutes in I've seen 2/1/0 ADC's sitting on 2 completed items.
Let's not forget that 3 items on a champ is when they go from mid game to late game. Mid game now lasts 4-6 minutes total.
I mean all of this is ignoring the gutting of level 1-13 defensive stats, the adding of high damage keystones which didn't use to exist, and the inclusion of 10 different forms of armor pen that didn't exist before... ect.
All of this leads up to why we get these boring triple tank into triple tank pro games these days. No single tank is ever going to hold up to 4 2-3 item champs for more than a couple seconds. So to play safely they run a crap ton of front line. Ironically damage being out of hand is WHY we see tank meta pro games.
Also note that your typical ranged pokey type mages don't really see play anymore. Why? Because they are mid game monsters. There is no mid game.