I've never heard of a fine system before, but really it is just another disceplinary system out there. Others include "letter in your file," 3-strikes your out, that type of stuff. As far as other airlines that have pretty strict ways, Qatar Airways is one where pilots must always wear their hats in public (even when sitting down in the terminal and when leaving the flight deck during the flight to visit the aircraft lavatory).
Overall, it is not necessarily so much the method of punishment, so much as the absurdity of some rules. Oh well, I guess that is one form of airline competition and pilots aspire to one or another.