I think the reason people buy skins is so they can say stuff like "hey look at me I got money and I support this game".
Or "Look I'm more awesome than all of you because I got cool skins on my champs and you don't".
Paying players have lost all exclusivity because everyone has skins and nobody knows if you paid for or got a skin for free.
I don't know about other players but I would be more likely to pay for skins if they were more exclusive and not on a freebie handout rotation.
I don't want to pay for freebie handouts, you basically look like a sucker having paid for what's randomly handed out for free.
Also 10 euro gives me only like one skin and that's also making paying none attractive, why pay 10 for something I might any day now get for free?
Make skins rare again and stop giving out skins in loot boxes.
I don't think paying members want skins to be free. And it makes skins overall feel a lot less special to have now that everyone is having so many of them for free.