Your suggestions have been registered. SpeedLimit feature is still in trial phase and it is too early to make a decision right now. When we review it after a certain period, we will decide against the effectiveness, inputs given by the esteemed users and our own deductions to modify, carry-on or terminate the feature.
Right now, we do not have any major issue with it and thus it will continue to be into practice with minor tailoring and changes.
Those who are not in SpeedLimit right now should be wary to accumulate warning points. Those who have fallen into it should steer clear from further reports for a fortnight. As mentioned in the OP, you will be out of the list.