Yes, you can cherry-pick one of those problems, and claim that uber-for-mob-justice will solve it. Will it make any of these other problems worse? Better? Worse for people who can't pay, better for people who can?
I don't want the perfect to be the enemy of the good, but I am not particularly impressed by this.
I think the idea is to try to catch it in the act. The LAPD is notorious for being slow. I was in a hit and run accident where my car was completely totaled and I was in a daze and it took them an hour to come and I'm pretty sure the only reason they actually came was because a bystander was mad and claimed there was injuries after waiting with me for a while. If they wont' come to an accident in a good time, I doubt they come to a break in. lol