It sounds like things in the online game will smooth out after a few weeks when they've figured out server issues and the trolls and griefers are relegated to only playing with each other, but they definitely dropped the ball in the rollout of online. Hell, I'm not even going to install the online patch until I can get a guarantee that it won't corrupt my save file; I'm not giving up 40 hours of progress just to sit in a queue for an online experience which doesn't currently work.
Fortunately, the single player is great enough that even if the online never pans out and I never play it, I'll still be incredibly satisfied with the game. I don't expect compelling online from GTA in the same way I don't expect compelling singleplayer from Battlefield. That's not its forte.