About level upping

So i started playing league again in season 8 and the level up system just doesn't seem rewarding at all. In my opinion level ups are just easy way to get new champions as new player or with new account. The problem is that those who have been playing for a while already had every champion in game before the level up system was implemented to the game. I have been just disenchanting champion shards to blue essence. Again what do you do with blue essence if you have every champion? There should be something you can do with the blue essence, like buying cosmetics or something. It feels like you are in a foreign country and you only have euros when the currency you need is dollars for example. You are just standing there like "Great I have all this money but I can't buy anything." Is this just riot being greedy with not giving us option to use currency that you get for free to buy cosmetics? Or was there some really good thought process going in someone's head with level up rewards? If yes for the second question, I really would like to hear his/her through process. In my opinion best possible solution would be us having and option to convert blue/orange essence in to RP with the rate of 100 blue essence= 1 RP and 50 orange essence = 1 RP.
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