I think the comparisons you make are very hard to justify.
Theres absolutely no doubt that it would change the meta, but to say it would turn the meta into everyone tower hugging is silly. People played conservative back then because those champions had such a striking advantage. Now it'd be all champions have this striking advantage, rather than some specific ones. I dont know what it'd do to meta, and anything I could say is pure guess work, but I am certain that it'd make the games in general far more bloody (ala twisted treeline in its original form).
The reality is that the best answer is somewhere in compromise likely. There is a problem with wards, and they do create some dull gameplay, but im not advocating their total anihilation, just hoping for discussion on how to limit their omnipresence at the moment. If you've played at high elo, you'd know just how stupid is with wards everywhere all the time. Games are literally decided based on how you manage your ward system, and it shouldn't be like that.