Do League of Legends placement matches even matter?

I’ve heard of people who used to be Bronze IV last season who went 8-2 in placement matches and ended up … in Bronze V.

On the other hand, I have a secondary account that I use to duo queue with friends, which was in low sil­ver last season. I purposely lost all my placement matches and went 0-10, but for whatever ridiculous rea­son, it placed me in Bronze II.

(Click to enlarge)

Do placement matches even matter?

How am I going to live the Bronze V dream life if the game won’t even let me drop that low, even if I go 0-10?

 

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