LoL sells cosmetic items. That's it. No time saver (well, I guess you can pay to open characters sooner but it's really reasonable... like $2-5 on bi-weekly sales tops). It's MOBA. Same with Heroes of the Storm.
I actually like their models the best for freemium. You actually don't need to buy a thing but you are incentivized to through ethical means. Basically, they say 'look! We just made a stupidly awesome looking skin. Want to buy it so we can make more?' To which the masses say, 'Yes, please!' and throw money at the screen.
That's a real choice not a psychological mindscrew like multiple currencies (energy, can energy, arena tokens, gw tokens, etc.) and gaming systems designed around pushing towards purchases using manipulation and time gates. Do we really need all that or can I just buy some good characters with a reasonable way to upgrade them?
Then again, a homeless guy I know started a GoFundMe page about 10 hours ago and has already made over $5k from it. Whales gotta migrate I guess. Good on 'em.