I think the fines are excessive, but then what is'nt excessive in NYC.
When I was stationed in Norfolk, VA. ( early 70's) several cyclists were ticketed for speeding and failure to stop at a particular intersection (residental). The speed limit outside of a back gate at the base was 15mph and two blocks down was a 4 way stop. I don't recall the fines or if there were points, but not stopping at the stop sign was far worse than the speeding.
The LEO's in that area interpreted a complete stop on a 2 wheeled vehicle as BOTH FEET ON THE GROUND.