While I understand why a lot of people feel that GTA IV is too slow, grey and "serious". At least I feel IV has something to tell. When playing V I feel that I'm wasting my time. I haven't played multiplayer enough (apparently online should be GTA V's strongest feature) but regarding singleplayer (story, characters and atmosphere) I don't find much joy in GTA V.
Together with San Andreas, IV is my favorite GTA game. For me V was a letdown because I couldn't sympathize with its story (get $100 mill because reasons) and characters (didn't help that you were forced to play as 3 different, yet all boring guys).
Additionally, it lacked atmosphere and tension. Even the brightest and most "goofy" GTA games had some dark and serious moments as well as difficult missions but I didn't feel the atmosphere in V and I don't think I failed a mission once. That's why me and a few friends refer to V as "Grand Theft Autopilot".
You gotta have the contrasts to those feel good vibes in order to appreciate them.