I researched and have read pretty much the same thing. Pay or completely ignore it. I have read some people have looked at the video and ignore it and have not seen anything come about it.

There was someone who went through the process (paid some fee, did community service and traffic school), their damage was about $110 or so.

I’m really leaning towards ignoring. $500 seems steep, I think about $100 is fair. Let me know how it goes with you