Maybe I'm late to the party, but I think this is a bad idea, not for us the consumer, but for you, (more specifically your design team).
You've made it so that first week sales will be drastically reduced.
Look, I don't honestly know how many eager kids with their parent's credit cards there are, but I don't think there's enough.
Since you're still keeping the "free after 2 weeks for a week" thing, pretty much EVERYONE will wait , at least until the price drop, to buy new champs.
Lastly, this means you really have to step up your game when it comes to releasing champions.
No more release-day Yoricks, no more Karma's , no more Sejuanis.
At the same time, you can't afford any more release day Zyra's too.
If you release an an underpowered champion, you'll have a huge demand for refunds since people will have basically paid more for a product that's substandard on release. The sad thing is even if you patch it, you have to do it before the price gets reduced or they would've paid that extra money for nothing.
Similarly, if you release an overpowered champion, you're basically selling power. You're saying, "Hey guys, pay more for this champion so you can play it in its overpowered state before we nerf it" .
That's selling power, and I'm sure you don't want that.
Seriously. the amount of extra effort you guys need to put out now on balance just for a (possible) increase in first week profit is kinda weird.
P.P.S . If you do eventually decide to raise IP prices to 7800, you've better make damn sure the champions are unique, since with all the price reductions you will make with this new program there's gonna be some serious incentive for people to buy what with all those cool champions like Orianna and Cass already being 4800.
Remember, there are new people coming in this game all the time. You're not just selling to the people who have all champions and are just purchasing the newest ones cause they can. You're selling to the people who are still creating their roster. How are you gonna convince someone to pay 3000 more ip (or more RP) ?