So what do you think about the looting system? Does it please you? Did you actually get some valuable skin from it? I only opened 3 chests so far, but I didn't have time to play that much. I got Piltover Customs Heimerdinger, Junkyard Trundle and some Nautilus skin. Don't like any of them that much to make them permanent, so I'm just keeping them around until I may get something I actually like. I personally love the system and I wouldn't want it to get removed.
I honestly couldn't care less about character skins - both in League and in Dota 2. It doesn't really show your skill, these skins just tell people that you either got lucky on a random drop, or are rich enough to be able to purchase a skin worth tens of dollars for a free-to-play game. It doesn't take any skill or any achievement to unlock skins. It would have been better as bragging rights if you have killed a certain number of heroes in online games, but alas, all you have to do is click purchase and you have it permanently.
I don't care that much about skins but I'm glad that they made this system so that people can literally play the game and get these cosmetic add ons without ever having to pay a single cent. I think the trade off is fair too as you have to put in a good amount of playtime to get it and it's only if you don't want to go through all the trouble that you can choose to pay.
I stopped playing league for some time, and I returned when the looting system got in. I still don't play a lot, but I looted something cool from them. I got DJ Sona shard and Hextech Annie, two very cool and valuable skins, but I needed essence. So I was collecting the essence for Sona for a year and a half I think, since I don't play like, at all. Still it's a cool feature.
I don't actually get excited with what I'll get since it doesn't really help you with the gameplay. I did get a few skins like ironside Malphite, Blacksmith Poppy, Marauder Warwick, and Riot k9 Nasus. Sometimes I even forget to use the skins.