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Rockstar intentionally designs their online mode to be a cheaters paradise because it increases their profit by doing so.
Cheaters who drop money on people get those people hooked on buying stuff, making them far more likely to spend real money on pointless in-game currency to obtain the so called "free" content.
Any time they need a boost in sales they can toss out a ban wave to remove all the most obvious cheaters, which in turn causes a percentage of those cheaters to purchase new copies so they can continue playing and cheating = sales go up.
You also have a percentage of the banned cheaters who come on the forums and complain about being banned "for no reason" which in turn fools other gullible people into thinking that Rockstar is trying to combat cheating = they are more likely to purchase in-game currency to support the developer.