I guess that is the whole MoBa thing. Samething for SC2 - you build, destroy and new match. There are rankings and silver coins you work for, which those silver coins allow you to purchase alt avaters (Major wank fest since people get knee-bent from some of them).
In saying that though - when you look deeper into it, LoL is the childs game, DotA is the veteren's game and HoN is the most competitive. However, in saying that, LoL is by far the more superior game in terms of players / comps.
Daniel - I'll send you a PM. He is a really nice bloke too