That's a good breakdown, though I don't think I'd call it less skill expression, more so that it is shifted into other areas.
Smite timing still matters when it comes to using your ability (non-DoT)/basic attacks on the objective (we are still testing to see how we feel about abilities working or not).
But the skill test is, like you said, still about hitting the objective and the timing for the still exists. This is intentional to allow for exciting moments like stealing Dragon/Baron and make them less of a coin toss and more about champion mastery.
Where I actually think this does is shift the skill test out of PvE and more into PvP. By giving junglers access to ghost, ignite, or exhaust, (maybe a heal gank) the skill check is shifted to ganking and choosing the right tool for your champion/game.
As for loadouts I don't know the details here, but I believe it is primarily focused on updating default loadouts with new items and better rec builds,...
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