The current ranked system is simply put, very, very bad.
First, LP and rank has, quite frankly, no correlation to skill. When Bang went to NA, he was placed in Iron IV. Yes, he actually lost a game or two in Iron IV. Does that mean he's shit? Obviously not. But if rank=skill, then I could say that Bang is an Iron Player...which is false.
The game has no reward for individual skill. Being good in ranked means quite literally nothing if you don't win.
Why does a team based game have a system that rewards the team with the less bad player?
The fundamental flaw with the system is the fact that carrying a game is far harder than causing your team to lose by running it down. One person can ruin the game, but it's rare that one person can carry.
The current system doesn't actually promote growing your skill set. The current system promotes one-tricking and simply being better than your opponent. I don't feel like this is healthy. One tricking doesn't really teach you how to play super well. It's a way to hide your weaknesses so that they don't lose you games, and is just a crutch that should be used until you acutally know how to play well. But there are so many players that continue to one-trick (which is fine if you just enjoy the champion, but it's not a great way to learn to play well). The system also promotes just being better than your opponent...which doesn't mean anything because autofill exists. Also, just "being better" is NOT a measure of "good" play.
If op.gg can tell me I was MVP, or ACE, or that stuff, why can't Riot use a system like that? Your stats will determine how you climb, like the best 5 players all gain LP and the worst 5 lose. This way, good players who have bad teammates still get LP, but bad players who get carried lose LP. I feel like this would be far more fair.
Basically, if Riot made a system that rewarded individual skill, the game would be far better. But we don't....but I guess a free site like op.gg can tell me my rank based on skill, but Riot can't implement that.