And.. to answer back to the "money grab" opinions, let me throw in my own:
Back many a day ago, when working in upstate New York, I had this co-worker who happened to own a pick-up truck. The SO and I had found a couple of pretty heavy desks at a YMCA yard sale (they were cleaning out the place), and we needed to get the thing home. I asked the co-worker if I could borrow his truck and he very nicely agreed.
And then, the truck. One could look down through the floorboards and see the ground through cracks in the floor. Worse yet, when going over bumps, the front of the vehicle and the rear of the vehicle were not following the same trajectories, which scared the living #### out of me and made me slow 'way down.
The SO and I got the furniture moved without breaking anything (including that truck), and I returned the truck to the co-worker, with a very polite, "What the heck was that?" comment.
Interestingly enough, the vehicle was registered in Florida, where he had lived years and years ago. And he never updated the registration to NY because, well, if he had, the vehicle would have to be inspected. Which it would fail. And that meant money, in either getting it fixed (doubtful) or having to find another means of transportation. The fact that he was risking his life and that of every other person in and around the roads he drove the thing on never, I think, actually clicked with him.
In a way, there aren't a large percentage of types like that guy. But there's always some who, given the chance, will operate like that. Heck, when I was in the Navy and stationed in Norfolk, there were drivers on base with Florida tags for precisely that reason: No inspections on out-of-state vehicles. And, just for fun, two more factoids: When going to school in Indiana, I was regaled a tale by my SO's roommate where she and a collection of like-minded teenage idiots had been driving about in a car belonging to one of the idiots and there was a stench of gasoline present. Did anybody stop and go, "Jeez, gasoline is flammable! We should check that!" Nope. Instead, on a deserted country road, the engine compartment caught on fire, they parked and bailed and watched the vehicle burn to the ground. Pre cell-phone days, so they had to hike somewhere for help. Eventually.
As it happened, during my time in the USN, I actually had a permanent residence (my parents) up in Massachusetts. One year I went on leave (i.e., a vacation) during the summer and arrived in the dead of night. I was literally on my way to get the car inspected in an adjacent town the next morning when I got nabbed by the cops: They were picky about the inspection stickers, even back then. Some fast talking, display of my license, military ID, and leave papers got me out of a ticket, and the scribbled address of the shop the car was going to didn't hurt. Then, as now, in MA they were all about the safety: At the time, the EPA hadn't gotten that busy yet (before the clean air act). What they were after: tail lights, brakes, leaking fluids, alignment, broken suspension, and all that. Nice to see that the rules haven't really changed.
As for those states, including NJ, that don't do brake and general operational checks any more: They're just risking lives, not just of the drivers, but everybody else driving around or on foot nearby.