You can't even compare GTA V to GTA 1.
There isn't fully-rendered 3D nudity in GTA, there's barely any swearing (well, there's barely any voice acting, mostly just text), the graphics are... top-down 2D sprites. Hardly a realistic depiction of violence in the original game. C'mon.
Which begs the question; is the "But I played [insert ultra-violent title] when I was 10 and I'm fine argument" still hold up? Games have become much more visceral then their 64 bit counterparts.