There is an argument to be made that by not taking a tough stance against the rampant cheating / exploiting Rockstar are already endangering the health of the game population.
Once a game is known as one in which most players can simply exploit or hack etc it will fail, or become pretty niche oftentimes.
Also, all these people they would anger enough to leave by banning, are already leaving soon or left because there is no reason to play once you have everything. They can screw around with friends, but with no carrot left anymore, they will get bored.
It makes no sense to allow this to continue in any way from R*'s POV. Why they haven't done a thing about it seems nuts to me.