This "voice chat" we have right now in this game is a joke. If I wanted to talk with my friends I could easily use Discord or TS. That's not what people have been asking for so why did you give us this? It's like you made it only to make people shut up about voice chat but most of us aren't that stupid Riot. I want to be able to talk to random people in solo queue what I can do in any other competitive game like CS:GO or DotA. The fact this game still doesn't have REAL voice chat shows Riot doesn't understand competitiveness.
As a jungler for example I'd like to be able to QUICKLY communicate where enemy jungler is or is about to be and I can't really do it as efficiently by typing. It sucks to stop holding your mouse, hitting enter and then typing - it takes time which you could be spending on controlling your champion + it's longer than simply saying it to your microphone. You can often die because of typing and befor you'd be able to hit enter again it can be too late to communicate certain information. Voice chat DOES take any competitive game to the next level.
The argument "people would only use it to call other people bad names" makes no sense because you'd be able to mute someone just like you can mute someone in regular chat so it's a made up issue. You also could easily store voice chat recordings of people who got reported and don't tell me it wouldn't be possible because Riot already has game replays available for EVERYONE as Highlights and storing video + sound surely takes more space than storing sound alone would.