I would probably rage for like 2 minutes. Then realize how Rockstar is going get a bad reputation, probably get unnecessary death threats from others through twitter, and they will either unban those people or have a game that lost at least 50% of the players because of their coding mistake. I will just shrug and wait until I get my Xbox One so I can play Killer Instinct and Dead Rising 3.
Besides, if they ban anyone, it will be players that ABUSED the glitch. Now there is a difference of repeating a glitch and abusing it. Abusing it will be those who buy tanks to kill people over and over again. And insurance their vehicle purposely crash it so the other player gets a fine. See the difference?
Therefore, the people that deserve to get banned will. And others who did it just for a car that won't harm anyone, should be untouched. And if Rockstar does ban everyone...okay. Can't change their mind. But it would be a bad idea to lose half their playerbase before a new console comes out. Probably 25%-35% of our community will still be playing this game after the console release if they do ban ALL players. Just my perspective.