I think most of your points are valid, especially how even after all the crazy good cinematic trailers and everything, riot hasn't been able to create a usable in-game HUD.
I'd also add that riot has always catered to the casual audience and player base more, who don't care what is good and what is bad competition. New maps and agents are added every 3 months, existing agents have huge changes; this changes the meta constantly. We have a situation where a team that destroys everyone in one international event doesn't even qualify for the next one because the meta change was not in their favour.
This means that we very rarely see high-level, even matches on international lans; because most regions have different comps/meta working for them. The level of competition is higher when watching intra region tournaments like LCQ.