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because it's not the bitrate or over-compression that's the problem, it's the actual source material...record an out of tune guitar both at 128kbps and uncompressed, it still sounds like an untuned guitar. (not very good)
To continue your analogy:
What if those recordings of the guitar only last a second? Where is the nuance in the sustain?
What if they don't cover all picking styles, or strengths?
What if they only record one pickup, or from one position if it's an acoustic? How do you get those other sounds then? What if you only sample each string and "interpolate" the notes on those strings?
Objectively, with GT, the short samples and their few number in the rev range, as well as for the different sources and throttle / boost positions, constitute a quality issue. All of these things mean the samples take up less memory using the standard method, though.
Listening to the startup sounds shows that the source material is fine, in a lot of cases. There were systematic errors introduced with the recording process before GT4 (namely neutral revving; reduced audibility of intake, and fluffy / unstable exhaust), but that's supposedly since been fixed - they just haven't used all of the new recordings yet, because, presumably, they're being used for the new format only (avoiding duplicating work).