[2023] If League of Legends has its biggest budget ever this year, it certainly doesn't feel like it.

Riot CEO said it at end of 2022 here: https://dotesports.com/league-of-legends/news/league-of-legends-will-have-its-biggest-budget-of-all-time-in-2023

I think he's no longer the CEO though but that shouldn't be relevant for that. Budgets are set in advance obviously.

I'm reposting /u/pretend_belt5721's comment here because it shows the issue exactly:

2017:

• Elementalist Lux in December 2016
• 4 champion updates (Warwick, Galio, Urgot, Evelynn)
• 5 champs released (Xayah & Rakan with cinematic), Kayn, Ornn, Zoe
• Skinlines: Lunar Revel, Heartseeker, Blood Moon, Toy Box, Dark Star, Dawnbringer/Nightbringer, Pool Party, Omega Squad, Star Guardian, Immortal Journey, Super Galaxy, Project, Snowdown
• Dark Star Game Mode
• Invasion Game Mode
• Snow Battle ARURF
• Legends Never Die Cinematic
• Honor Update
• Runes Reforged

I can't imagine Riot in 2023 with 20x the budget and 10x the number of employees that they had in 2017 can only squeeze out 1 champion update and 1 new champion per year.

Where are all of their resources going?? They certainly aren't going into LeagueOfLegends.

In 2023 we got so little compared to all of that. And very little has even been teased or announced. There's the 2v2v2 mode and that's nice, but it's just one thing.

Maybe they are doing secret projects that we didn't hear about yet? That's the only thing we can hope for I suppose.