Not really, it was a LOT harder to get licensing then, seeing as it was still a very new type of game, and bands and labels just didn't want to give their songs to something that may die out soon anyway. We are used to masters now as artists and labels have seen that it's going to be around for a long time, and so are more willing to license tracks, and even release tracks through the game.
There are still bands that don't want to give their songs up, such as Led Zeppelin, because they don't want people playing with their masters.
Besides, the GH2 covers are awesome.