A lot of which is cynical fiction.

Fees aren't paid up front - they are contingent. An unsuccessful case yields nothing. Peer-reviewed academic studies covering hundreds of cases point to a median value of ~25% of recovery going to attorneys. Fees are approved by the courts. Judges can allow a % or they can approve hours and an hourly rate. As for small individual consumer payouts, 75% of something is better than 100% of nothing. In a fairly weak consumer protection environment (look at air carrier contracts of carriage) class action suits are one of the few defenses available to consumers.