I understand your criticism and it is fair, but this represents and improvement over the current state which is effectively no enforcement.

They're speed cameras, not red light cameras, and the revenues go towards street improvements to reduce speeding. So you could speed as much as you can afford, but eventually you'll have bought enough traffic calming infrastructure it'll be prohibitively difficult to keep getting tickets.

Constitutional protections aren't trumped by mere issues of governmental convenience.

What's the alternative? No rules at all? Immediate death penalty for anyone who runs a red in front of a cop? Seizing and auctioning off the car? Deporting the offender to Texas? Something else? Revoke their license?