A sole proprietor landscaper making $45-50K a year in California is paying $675 a year in annual registration fees just to keep his newish pickup truck on the road. Why newish? Because the people he's servicing trust a guy with a nicer work vehicle than a beaten down 30 year old Tacoma.
A $900k developer with the same pickup is also paying $675 a year.
Extrapolate this seemingly trivial example across literally EVERYTHING in life.
If you want them to pay, tax the fuel and consumables like tyres, or put a tax based on how hard is to recycle the car once it hits the scrapper. Bit more complex with EVs I admit, but making someone pay just for keeping car even if they use it once a week is silly.
Yearly fee should be proportional to legalese required to keep it registered (paying wages), not much more.