Hey Sinz, your analysis isn't crazy off. Riot is well aware that the result of their design has been a very turtle-oriented game and they are trying to fix it. In the first patch after these videos, they nerfed the summoner spell Ghost so it was less of a "Get Out of Jail Free" card and Flash has been nerfed a couple of times since launch.
I think the primary problem is that the same has a very flat design in terms of drawing out player skill. Last-hitting creeps isn't that hard, there are a lot of healing abilities and Riot intentionally dodges complex character designs that might be obtuse to casual players. So the result is that at a high level, the gmae is less about who dominates hard than it is about who sucks less. There is a razer-thin edge of difference between top teams, so itemization can and will win games. That means first blood, dragons and baron kills are often going to determine how the mid-game goes. HotshotGG even made a thread before the WCG finals freakin' out about how purple has this huge advantage because its so easy for them to do baron from behind the wall, which prevents ganks.
That's why good warding is such a huge deal in LoL. You have to avoid ganks coming out of the jungle and you have to control dragon/baron or at least make sure the other team doesn't as well. Often if you win a team fight, its in your best interest to take dragon rather than push a tower because a tower will always be there, but dragon might not. So you ward like hell to keep the other team from ever getting a lead on you via dragon or ganks and you focus on summoner spells like Flash/Ghost to stay alive in an attempted gank AND to finish off kills of fleeing opponents if you have a clear advantage.
As for Twisted Fate, I think he was rated a little lower than he should have been going into the tournament. He used to be a BOSS. Like, his attack speed could get so high that he could TP onto towers solo and backdoor them easy. He also cleaned up kills all day with his TP/stun combo. So Riot nerfed his attack speed buffs by like 2/3rds and reduced his damage a little bit to make him less of a top tier pick. BUT he can still assist in ganks and push lanes. He had recently got a small buff to his damage, I believe, when the European teams started using him a bit more again. As you can probably guess, in a metagame where you turtle up as a team and defend/run away a lot, a guy that can push opposite lanes without fear of getting ganked and teleport to and stun fleeing enemies is a nice tool. So he was one of those surprise characters that worked in a particular setting as a result of a metagame shift. If you watched the next two games in the series, you see the US team bans TF and then they don't have to worry about it anymore.
The good news is that Riot is working to adjust these things and make the game more oriented towards active play. They say their new, larger map will help with this a bit, although I doubt it. It will at least make warding less effective, since you'll have to ward more of the map to have the kind of vision you get with just a few wards in Summoner's Rift. They say character design is going to get tweaked a bit to adjust this as well, but since MOST characters have some kind of CC or escape mechanic, I'm not sure how they'll make those less of an issue. I guess we'll see how it shakes out in the next couple of months.