Speed cameras are often implemented in areas where heavy pedestrian traffic exists or a history of car crashes has happened. The goal of the cameras is to reduce speed to prevent crashes and reduces injury and death. The solution is not to raise speed limits just because drivers feel entitled to not follow the limit.
Imagine if we did this for other laws. Well people are still murdering each other even though its illegal so we might as well make murder legal. This may seem like an extreme example but speed is one of the biggest factors in how deadly a crash is, so just increasing the speed limit is basically saying we are okay with more people dying so long as they think traffic is moving faster.