Rockstar may have acted stupidly, but they haven't really done anything wrong as far as I can see.
Well leaving the code in the game was stupid, yes. But what they did wrong was to lie to the ESA, the media, and whatever politicians were in the mix by saying that the content was added by the "Hot Coffee" mod and it didn't unlock content (a blatant lie which -- to my knowledge -- they still stick to). In the current climate, that is a
big wrong. One for which they deserve to be punished in some form.
If they had just said, "Oh, fuck, we're idiots, yeah we forgot to remove that content from the game. We apologize, if we need an 'Ao' rating so be it, we'll put out a new version with that content removed entirely." I doubt it would be nearly the big deal it was.
But that would have been the mature and sensible thing to do. Instead of acting like a big company, Rockstar and Take2 acted like a teenager who just got caught with pot in his/her room and tried any escuse they can think of to place blame elsewhere.
Like I said, now that they acted this way, politicians have fodder to say "game developers are hiding evil things in the games your kids play and lying about it. we need to regulate them." Sensationalistic of course, but the entire thing could have been avoided if Rockstar & Take2 would have acted like something other than buttfuckidiots.