Basically, if this game wasn't made by Blizzard, I would say to cash it in and forget about it. You can say a lot of things about Blizzard, but one thing they do REALLY well, is iterate and improve. I love LOL. I play it almost every night. I have almost 1500 games, own every champ, own like 300 skins, played most positions and champs in a competitive 5s team, but the game seriously sucks when you boil it down to a design perspective. It's problems are even recognized by Riot (1) Snowballing, (2) Gold/EXP Distribution between Roles, (3) obviousness of gear choices, and (4) lack of cues as to when you did something wrong or did something right, and (5) extremely stiff barrier to entry. Riot would list every one of these things as an "issue" with the game.
The problem is that Riot doesn't need to fix them. They are making bank on the game and, although they may be issues, they aren't severe enough to keep people from playing and paying. They could, if they wanted, immediately fix these issues, but then they risk alienating the massive player base that they accumulated. Still, that doesn't mean that someone else cant come along and fix them and produce a better project.
Every one of Blizzards changes from LOL are designed to eliminate 'problems' with the game. They made no changes just to make changes or to be different. They made them to fix the issues on the list above. Now the problem with doing it this way is that it takes a TON of time and energy to make such drastic changes and still come away with the fun of original. Taking LOL and making it better is right in Blizzards skill set. They aren't there yet, but they are on the right track. Blizzard has the bankroll to spend another 3 years in alpha until they get it right. I suspect they will, but it probably wont look a lot like the game we are playing now.
I think they just need to spend 3 months watching and see what happens to the meta before they make any drastic changes. Some things that I suspect they will need to iterate on:
1. Laning is not fun now. It seems like a forced aspect of the game without last hitting. The minions (creeps?) are just there. They don't really add any value to what is going on in lane. They have the right idea with the health globes, but its not enough.
2. They need to add some structure to the "jungle" right now. Maybe a big mob at level 1 that takes a number of people to kill equal to 5-the number of lanes (so either 3 or 2) and give some benefit. Maybe killing it starts the Mercenaries spawns. This will give a little bit of level 1 maneuvering and game play.
3. There needs to be more incentive to keep people in lane longer...because the game breaks down to a clusterfuck of not knowing what is going on very rapidly. Maybe the team EXP per mob needs to be upped or something, but there needs to be some sort of "centering" of the game so new players have a decent idea as to what they should be doing.
