But what about chests to use them on?
I'm not the first to bring this up, and I presumably won't be the last. But I've noticed that every time I log on I get more key fragments for being honorable, which... at some point it's not a reward anymore.
Here's what I mean, more specifically: it's early March and I have twenty-one keys, pretty much all gathered from the institution of the new honor system (I think I had two or three before that). Were I to somehow became good enough to grab S ranks with a bunch of different champs, or if I play more with my actually-skilled friends and they get me chests, I'm receiving key fragments so often that I cannot possibly use all the keys I'll end up with even maxing out the S-rank chests I can get.
I'm pretty sure there are a _lot_ of players like me, who are mediocre at the game but enjoy it and aren't jackasses. For us, at some point, getting handed all these keys is like being mocked for not being good enough to earn the chests you can use them on. And if we have to spend RP on the chests, it's not a reward at all.
I would simply like Riot to consider the rewards offered for honorable play outside of the key fragments. If there were no keys, would those rewards seem sufficient? If not, then something should change, because for a lot of people these keys are going to pile up and go unused. If good behavior was rewarded in a similar way to good play, that might do more to promote good behavior than the punishment system.
One final, admittedly unlikely idea: give us a way to sell our excess keys, either for store credit or to other players. It doesn't even have to be particularly beneficial to us; sell to the store for BE, or sell to other players for RP. It would just be an avenue to get rid of piles of keys that are unlikely to ever see use. I don't have the precise math, but if it takes ten honorable games to earn one level and three key fragments, and we're allowed to sell keys for 150 BE, then the average 900 BE level-up capsule would be worth 1050 instead. That's a big enough difference for players to feel like they're earning something for their honorable behavior, while not being some kind of BE giveaway that would let anybody buy a ton of stuff they wouldn't otherwise have the essence to afford.