League of Legends reboots its lore

The lore - meaning all the backstory of the universe and its different characters - of League of Legends has become a hogwash of semi-thought out ideas that puts enormous restrictions on what the creative writers can actually do with it. That seems to be the take-away, at least, from Riot Games' decision to scrap the whole thing and start over.

As many a comic book publisher has done before them, Riot is giving the LoL universe a reboot, keeping the things they like and substantially changing the things they don't. A post on the game's official blog explains:

[W]e have to be willing to look at work we've done in the past and honestly reevaluate it. In some cases - say, with a champion update - the original concept is mostly sound (or even timelessly awesome!) and all we have to do is bump things up to modern standards. Sometimes, however, we look back at decisions that made perfect sense when we originally made them, but are now at odds with our design values and ultimately limit our ability to continually improve League of Legends. That's unacceptable, and in such situations we seek to aggressively reimagine content in a way that realizes its full potential.

We'd wager that the majority of League of Legends' gigantic player-base aren't too invested in the lore, but for those of you who are - is this good news or not?