It's widely accepted that GT doesn't take into account the width of a tire. This alone deeply flaws the physics of every car in the game. The contact patch of a tire greatly affects it's cornering grip.
Perhaps, but do you realise how much more complicated the game would be to make if it took tire size into account?
For a start when you put mags on a car they are rarely the same dimensions as the original wheel. So what size would they be? You can hardly expect them to provide you with every tire and wheel size known to man can you?
Then they would have to make sure that that wheel combination actually fits the car in question, not just at a standstill but with the wheels turned and the suspension at full compression. Then if you lowered your car all that would be thrown out the window as many combos would no longer fit.
Then you would get the hordes complaining that they can't fit as big a tire as they want and can't gain the grip of other cars that can fit bigger wheels.
Now see this, Standard cars as of yet can't have their wheels changed, so none of the standard cars would be competitive anymore.
It just snowballs from there. Wider tires create more drag and if aero isn't properly modeled you are going to get even further from reality. Cars with artificial performance so to speak.
Keep in mind as well that the size of a cars brakes also limit what size wheels you can fit.
Also, offset. Gonna model that too?
What about the guy who says "my car comes with this model of tire" Gonna model tire brands as well? Then more problems. Particular tires only come in certain sizes and they are contantly being replaced with new models.
I think you would find that if "reality" was modeled to a tee it would go right over the heads of 99.9% of players. Considering most people who turn up in my lobbies try to spam cars that require no adjustment I think it would be a massive waste of time and resources.
Trying to simulate reality is a mammoth task and I think you got to pick your battles. PD has done a pretty good job in allowing mods but whilst trying to keep the cars on the same level playing field.
Gt5 has enough players operating in "alternate tuning land" ( brake bias adjustment anyone? ) without confusing them any further.