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Because I know how pathetic and meaningless my life is, so I do something where I can be successful, no matter how artificial or insignificant that success might be
This. I don't think it's a particularly creative champion, but I wouldn't say he's any form of fan service to fans of other games. He looks like a somewhat generic modern designed demon of some sort, and I don't think that's necessarily a bad thing or anything, just not all that interesting.