Reporting is basically a waste of time

During a nexus blitz game, two players started to argue and that continued for almost the entire game. It all started when one player of the enemy team (they were clearly winning) decide to bm in all chat and a player of my team start to reply to him/her. Things start to escalate and the enemy player decides to "defend" himself/herself by calling gay to the other player. Besides the negative attitude and the constant harassment, he/she was homophobic. I reported both of them at the end of the game. I thought Riot had a zero-tolerance policy against discriminatory comments but the truth is he/she is still playing, probably unpunished. After that, I remembered I send a ticket a while ago reporting, once again, hate speech and I check if he/she played after that -- yes, probably unpunished too. I also checked another person (who I blocked because of sexist comments in a game) and the same thing happened. So how efficient is the report system and how much tolerance has Riot towards hate speech?
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