Well, this rely in the main goal of Valve x RIOT
Valve doesn't want to be an esport company, they release their game, make money from it, they fund only one tournament per year just to make the game appear on the news to bring new players then bring more money. Valve is like 95% of the game industry.
Riot want to build a esport, they support it, they advertise it, they build their games towards it. Their main focus its to build an community towards their games.
That's why there's not a single company that comes close to esport management and that's why LOL is the biggest esport/game out there. Valorant certainly will follow the same path.
Too bad because I would not like so see the esport world dominated by just one company, would like to see companys like Blizzard, Microsoft, Valve itself and others building an esport ecosystem as strong as the RIOT one...