You are right, the only people who benefit from these class actions are the lawyers. The little people (victims) get peanuts.
I remember a case back in the 90’s a CRT monitor class action, I got a post card in the mail that I could claim an award of $7 and change, the law firm got millions, I threw it in the trash. Wasn’t worth digging up a receipt for some stupid monitor I bought 5 years prior.
RICO cases are different. Plaintiffs get trebled damages plus their legal fees. The federal RICO statutes are part of the Federal Criminal Code, and also provides for civil remedies to encourage private citizens to go after people who run racketeering enterprises that have some nexus to interstate commerce.