In my opinion GTA V isn't a driving simulator at all. It's a sandbox mayhem simulator that happens to feature cars, often as weapons.
GTA V is about driving at 150mph through a narrowing gap between two cars waiting at the traffic lights, slamming into a bus crossing the intersection, spinning fifteen times, shaking your head, laughing it off, and then driving off at 150mph (in the same car), jumping off a ramp over a freeway, controlling the spin of your car so that you loop twice and land on the roof of a skyscraper, getting out of the car and base jumping onto a moving train, from which you launch grenades at a passing police car, and watch with satisfaction as it's fireball leaves the road and causes a domino-effect explosion in the car-park of a family diner.
Realism wouldn't be compatible with the fun of doing all that.