...it's governed by nothing more than a cheap skin over a dated system, easily described by these two points in the S3 FAQ:
|1. "No. Matchmaking isn't affected by your league, and you'll still be competing against all opponents of your skill level in the League of Legends community. Your league measures your progress against a set of opponents of similar skill level, but doesn't restrict competition solely to those players."|
|2. We decided to move to the new league system for a few reasons. For starters, having a single ladder with all ranked players doesn't provide a lot of incentive for advancement. When you're ranked 290,000 and have 289,999 opponents left to pass on the way up, that process can seem meaningless and interminable...|
We don't have achievements to provide longevity with our current model, so, here's some rose-coloured glasses!
Matchmaking never changed; the queues are exactly the same; these points are just a cover-up for the old ELO system graded by fancy metals rather than big numbers.