Speeding fines were set back in the days when it required a cop to catch them. The fines were considered fair back then. Deterrent math works out like this:
Deterrent factor = (Likelihood of getting caught) X (fine when caught)
Another reason for fines might be to pay for the cost the society must bear for the fallout from the transgression. This math works out to:
Money available to fix mess = (fine amount) - (cost of catching and processing violators)
In both cases, automating the process of issuing speeding tickets should result in lower fines. If the fine is being used as a deterrent, the likelihood of being caught went up, so the deterrent capability of a given fine amount is greater. If the fine is being used to compensate society, automation should reduce the cost, therefore reducing the amount that needs to be collected.
Here's where your attitude comes in: if the fine amount was acceptable twenty years ago, then it is outrageous in areas with cameras. We should all be fighting against them.
Another thing - these traps don't actually work so well. Violators have much less recourse to address mistakes in the system, and every time someone looks into one of these systems, they are rife with mistakes. Also, they tend to hit the same people over and over again. If they put a camera on your path from home to work, you are thousands of times more likely to be caught than if your path to work didn't happen to go by a camera. Where to put them is a political process, not an engineering process, so it is always abused. Also, going ten mph over the speed limit doesn't raise reduce road safety very much. Almost all of these tickets are bureaucratic victories, not safety victories. Finally, because the same people tend to get hit over and over again, there has been a recent trend of people simply letting the state take their license instead of paying the fines. Once they are driving without a license, there is really not much to hold over them. It's either let them go or put them in jail. Letting them go is admitting that the fines aren't worth it, and jailing them costs way more than the societal cost of speeding was in the first place, so everybody loses.