You're buying into the arguments of influencers who are doing their job, influencing.
Esports organizations were in the decline in the VCT and could not survive without the support of Riot. Why should Riot keep these companies alive at their expense? What level of contribution were these orgs making in terms of helping VCT and Riot extend their influence? The relationship was not balanced. The competition these orgs were providing were being criticized daily. What effort did they put into fixing it? A 100x tweets saying "Oh we'll get em next time, sorry fans."
Have you seen most esports orgs YouTube channels? They're doing viral marketing from 2 years ago. Most esports organizations twitter accounts, while entertaining, are liabilities. And what support did the orgs give the players outside of a paycheck? Outside of a coach who could not deliver?
They all had their chances. They all decided to stick with the failing strategy of nepotism.
Maybe 5 friends who think they can make can do all of this better than a parasite trying to leech off revenue streams without providing actual effort.
My only problem with next season's format is that it's online and there are going to be so many teams who can't make it unless they employee cheaters. I hope they move it to offline events in the middle of the season. But I have low levels of confidence in anything Riot related.