champions ip boosts and xp boosts, are all purchased through ip which is currancy you earn not buy but good try. Also beyond the 30 hour grind it takes to hit lvl 30 ip and xp boosts are no longer useful. What they sell is all cosmetic everything else is earned.
Uhh, I'm under the impression you don't even play the game.
You are correct in that League lives solely through skin sales. 100%. They don't sell a lot of official merchandise, and they actually lose money doing the LCS (imo it's just like a huge advertisement for the game).
But, IP boosts and XP boosts are not bought with IP (Influence Points, in-game currency). Champions, however, can be. Or they can be bought with RP (Riot Point), the real money system. Prices vary, but it's 6300 (~50 games worth of Blade And Soul Items) IP or 975 RP (~8 USD). Skin prices vary, but they are also generally 975 RP.
IP/XP boosts cost RP. Champions can be bought with IP or RP.
Also beyond the 30 hour grind it takes to hit lvl 30 ip and xp boosts are no longer useful.
LOL what the fuck are you even talking about. Before I even get started, it takes longer than 30 hours to hit level 30.
30 is account level cap, so obv XP boosts aren't useful. But IP boosts? What? If you're talking straight up in terms of value, it's usually better to buy a 3-Day or 7-Day IP boost over spending that RP directly for the champion. Especially considering you cannot spend RP to buy Runes, which are IMO 100% necessary to play the game.
Anyway tl;dr: OP is an idiot, but Riot does fund League solely through skin sales. Which are purely cosmetic.