That said, the bill addresses this category of abuse directly: if a speed camera fails to reduce 85th percentile speeds or violation volumes within 18 months it must be removed.
There are also substantial limits on how the revenues can be spent. If you are interested in this topic it's worth a read: https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml...
As you say, it encourages short yellows. I am aware of having "run" one red light in my life--got ticketed for it. The yellow timing was set as short as legally permitted--a driver had a narrow window to decide go or stop. Unfortunately, what happens when neither is an option? I was in the left turn lane and past the decision point. I was already slowing when the light went yellow, I saw it and knew there was absolutely nothing I could do about it.
There's also the problem that a huge number of red light tickets are issued to people who "run" red lights in a completely normal and safe manner: making a right turn on red. Car #1 stands as far forward as they can without being in the cross traffic path, the other cars line up behind. First car goes, the rest move forward. Nobody pays attention to the stop line--but the camera does.
In the real world, neither speed nor red light cameras pay for themselves except when something about the situation causes a problem--and it would be better addressed by fixing the true problem. Likewise, I have never seen a cop watching a situation for offenders unless there was something out of sync between the law and the road. Half of the traps I've seen over the years have disappeared when the root cause was fixed.