There's an annotation that says 'More realistic = less fun' when the GTA V character dies after hitting the water at terminal velocity after jumping out of a helicopter, conveniently leaving out the fact that 1. they also give you a parachute whenever you exit a helicopter in V, making it easier to AVOID hitting the water at terminal velocity in the first place, and 2. earlier in the video they showcased IV's 'realistic' physics, presumably to show that more realistic = more fun...? What is the truth here?
The only things I see that actually add to gameplay in a significant way rather than just being more realistic are the better parkour physics, building interiors, dedicated online servers, and the emergency services missions. That's 4 things in that entire 17 minute video. I could pretty easily list 4 major things that V does better just off the top of my head - better vehicle customization, better weapon wheel, more geographical variety, and the mere existence of actual planes rather than just a selection of helicopters.