Riot is declining, fast, and for some reason their answer seems to be to focus on doing all the wrong things.
Players are fed up and not having fun (at least not like they used to), and your answer is to release radically expensive prestige skins to try to make your profit up? Are you guys for real.
Listen, players are not buying skins like they once did because they are not having fun like they once did. The atrocious balance, turning the game into a top down street fighter, lack of features added (you guys can't even add a few reskins to SR a year??), absolutely nothing done about games being decided by trolls and griefers, and a matchmaking that makes people want to cry, is why you're losing revenue.
Fix. The. Game.
There's your answer, not radically expensive skins, not more balance changes in the same direction, not make 10,000 more keywords bannable. Make the game fun again, and people will buy your shit.