I agree with the idea of having the kids themselves (not the parents) pay for the damages as part of the punishment.
Years ago, a kid drove around our town and shot out a lot of car windows with a BB or pellet gun. When the damages were added up, he'd done over 30,000 dollars (1980s dollars) worth of damage!
He was caught and ordered to pay for it all. My car had two side windows broken, and we got checks periodically from the "Victim's Compensation Fund" for many years. And each time we got one, I actually felt sorry for the kid! Imagine, starting at about age 18, spending every dime of your disposable income paying back for that one night of foolishness for five or ten years!
I was mad when it first happened, but over the years, I really did feel bad for the guy.
A lot of times, kids don't think about the possible damage or consequences of foolish pranks, or reckless behavior. But they can grow out of that and become excellent citizens. It all depends, of course. But having to make restitution for something like this would likely make a huge impact on a kid.
The nasty thing about this was ringing the doorbells. If someone had answered the door soon enough, they could have been blinded, deafened, or otherwise seriously injured by shrapnel.
Hopefully it was not the intention of these kids to injure anyone. If it was, then that indicates some serious mental issues that are likely to be present for the rest of their lives. I've known some kids, who you knew would never grow out of their "defects", and you could see the signs from quite early on. That is scary and sad.