Earlier quoted context omitted.
In my homecountry someone gets hundreds of speeding tickets per year, always on the same road. Doesn't care. With a properly scaling fine they'll stop doing that quickly or lose out on more than just a little yacht. I'd say it's a pretty decent step, especially when combined with confiscation of the vehicle if it's a repeat offender or a severe case. As you said it may not be perfect...but I'd rather see that than so…
Hows this: get three speeding tickets, get your license suspended.
Edit: Same with using the phone while driving. It's one of the biggest contributing factors to road accidents, yet here the fine for doing it is barely above the price for a decent headset. So most just don't care and trust the fact that well under 1% will ever be caught because the police either doesn't care either or just doesn't have the manpower to effectively enforce it.