On one hand, the idea of "cheating" certainly fits in within the scope of the game. I know I'm not the only one that sees the irony that the developer of a game which encourages you to earn money through illegitimate actions (ie. robbing banks) is looking to prevent players from getting in-game cash through illegitimate ways (ie. exploits). So from a thematic standpoint, it fits.
But from a practicality stance, glitching and exploiting can ruin the economy of an online game very quickly. Stabilizing an online game's economy is hard enough without players finding new ways to trick the game into rewarding them with free crap, so imagine the challenge Rockstar is facing by players continuing to expose these workarounds. Having an excess amount of money in the game can lead to rapid inflation for goods and services in the game making those items you want even more expensive.
The argument can be made, however, that prices in GTA Online are so excessive that cheating is the only way to afford anything...
To read the rest of the story, head over to GameZone.