Yes. Riot doesn't really care about cheating - else they would use identity verification to permanently ban cheaters - this is about something else. They either want that kernel-level access to harvest data, or else it's about modders making mods for custom skins that cut into their revenue.
Given how intrusive these anti-cheats are, identity verification and login would be less intrusive.
At least with verification, when you ban a cheater, they stay banned. At that point, you can put humans in the loop.