Basically just fining people doesn't help.
The logical conclusion here isn't that red light cameras and speed cameras are ineffective, it's that the punishment for them is ineffective. But since TFA has a bias about wanting to speed and endanger the lives of everyone around him so he can get somewhere a few minutes faster, he has to form irrational conclusions that because the cameras aren't working, the whole policy is stupid and should be forgotten, rather than just its implementation.
Imagine if we applied the same logic to programming: "Well this program doesn't really do what we want it to, better just bin the whole thing."
Maybe speeding cameras won't be necessary when everyone has self-driving cars that follow the laws. But since there's an epidemic of breaking the law, more drastic punishments must clearly be taken. A strikes method should probably be implemented, where drivers are issued a fine, a suspension of their license, and finally if the problem persists, a total invalidation of their license. I fear this may be the only implementation that protects people.
Don't break the law if you don't wish to have your license revoked, it's basically that simple.