I think the author misses the point here. The cost of purchases in GTA Online adds up so quickly that $500,000 isn't actually that much in the greater scheme of things. It might get you an apartment or a cheap car, but once it's been spent, you need to earn more. Some of the cars in the game are over $500k as well. Seems like complaining for the sake of complaining without any real facts to back things up here.
Rockstar are doing it right in my opinion. It costs them nothing to give users fake $500,000 and it keeps the users happy and in the game, which means more users online which means the higher the chance of Rockstar making real money off of your presence.
It will get you the apartment of your choice. The most expensive is something like $422,000. Or any car under the top tier. My fear is it will get those who already have a decent bank account closer to the tank, fighter jet, or attack copter. Too many of those in the game at once could cause problems but it's only a matter of time before that happens anyway...
Rockstar are doing it right in my opinion. It costs them nothing to give users fake $500,000 and it keeps the users happy and in the game, which means more users online which means the higher the chance of Rockstar making real money off of your presence.