The "socialist speed bumps" is deliciously ridiculous of course, and it's easy to imagine these complaints coming from rich people who want to race their super low Ferraris through the street, but from the article, the complaint sounds a lot more reasonable; these bumps apparently exceed the council's own allowed height. And some have indeed been fixed already.
That said, I'm not a huge fan of speed bumps (though I don't mind them much either), because I think they might encourage these people to buy luxury SUVs instead. I'd rather see extra curves added tot the street. They may do less for the sports cars, but more for the SUVs. A mix is probably best.
But I suspect it's cheaper to just add a speed bump; requires less thought , less redesign.