Yeah, that's pretty fucking terrible and it's probably bad like this all over. I say that as someone who went to school to learn the things necessary to get into this business. My primary instructor was a former Marine, and one of the main things that he tries to drill into people, beyond just the techniques to create modern 3D game artwork, was that in order to be in this industry, you have to work insane hours. This was true even in college. One of the main reasons being is that it's cutthroat and everyone wants to do it. So in order to succeed, you really have to put a ton of time in. Every part of creating content for 3D graphics is very time consuming, especially if you want those various, disparate components to be of high quality, which Rockstar of course does.
College taught me that the game biz was not for me as I didn't have the work ethic and desire to have my job define my entire life, and it didn't help that I was an awful procrastinator who wasn't very good with time management. For a little perspective, for one animation project, I stayed awake over 3 days straight in order to see its completion through, mainly because I so badly misjudged my time situation and the time necessary. A lot of people also misjudged this too, it's pretty much inevitable with a lot of those things for a lot of people. In order to be good, you have to seriously dedicate time consistently.
And talking as someone who worked in a car part manufacturing plant that worked every day with 12 hour shifts for awhile, working 100 hour weeks would be godawful. The industry really does need to figure this stuff out.