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Well, DriveClub has dedicated servers and look how that turned out :p

There are advantages and disadvantages.
One important advantage of p2p imo is: Cheaper to maintain matchmaking servers so the game can live longer before getting shut off. Although GT5 still got shut off despite being p2p (and quite bad when playing with people from different continents)

My upload speed is much better this gen, probably also for others, so maybe it's not that big of a deal anymore.