That's not a good reason. Other forms of criminality and reckless behavior don't get this kind of extreme leniency.
People shouldn't have their license taken away over 1 speeding ticket but there need to be escalating punishments that include license suspension, community service, jail time. If someone works their way through all of these and still ends up speeding then they can't be trusted to drive a vehicle on public roads.
Drivers licenses in most if not all of the U.S. are a joke, and people will still drive with suspended licenses, especially if they have to for work. Driving on a suspended license should allow the state to impound your car, though, then it would be respected.
Jail time should also be considered too, for repeat offenders.
Cars are a weird sort of thing, where they both are the justification for a surveillance state and lots of monitoring, but we also have extremely lenient penalties. It's difficult for me to understand how the US arrived at our current set of laws.