No, for the effort required these days, labyrinth rewards are more than sufficient. Even a 4/55 Aegon can do itemless runs.To justify a class nexus, labyrinth would have to be much more difficult than it is now.
Itemless is a bit of a strech. That would require perfect play with minimal blocking and even then champs like ese machine, falcon and Juggernaut guarantee atleast helth portions and boosts