To remain relevant for me, personally, they need to fix a few things:
The sound, the engine sounds in GT games are pathetic in general, some very few sound great but most make either no noise at all or an audio equivalent of the beige you get when mixing all colors, a sort of indistinct hum.
Tuning, more of it and more potentially extreme fits, perhaps at the cost of durability. Juicing up the power or other features while increasing the chances of mechanical problems would be cool and realistic. Being able to extract only about 650-800 horsepower and a moderate amount of torque out of some of the best tuning cars in world is a downright shame and the mechanical aspect is non-existant save for tyre wear, changing oil and filling up gasoline now and then during endurance races. How about hiring and maintaing your own team of mechanics and engineers? Different tuning providers that favor power over durability, some specializing in diesel or hybrids, some being better at aerodynamics etc. Depth and realism right there.
B-spec is ridiculous but if you want a system where the player can make money, why not simply implement a system where you can "sponsor" an AI racer and get a stockmarket inspired profit now and then based on different factors. Or how about being able to combine into racing teams with other players via PSN, joining leagues, adopting or sponsoring other, newer players (kind of like in Stronghold: Kingdoms, you can become a vassal and gain bonuses based on your vassal players stats and economy)?
Physics, still feels somewhat like driving a bar of soap around a mirror at times and the loss or regaining of grip feels unnatural and random. This is especially true when racing with the lower-tier tires on, no tires feel that horrible in real life, especially not on a decent car.
There's also too much focus on traction, rolling, brake shuddering and uneven pull/stop would be prevalent in old cars, basic models with poor suspension and some luxury models with less sporty adjustments.
It feels like no matter which car you drive, the only differences lie in traction in some form, this is simply nothing like real life.
Launch the whole game, why did they patch in adjustments of gear ratio long after release (just as an example)? This has always been an integral part of the tuning and pre-race setup in GT games. You could adjust the main ratio, moving the bars for the entire box but there was no option to adjust individual gears, rendering the whole thing useless since the whole point is exploiting the torque as well as possible and all engine types are different (adjusting gears for a diesel is widely different than gasoline, NA engines behave very differently from supercharged/turbocharged engines, there are also minute and bigger differences in supercharged and turbocharged).
Overall, there's a lot to be desired in the series for me, they seem to have focused mainly on increasing the car roster and making the tracks and cars look good, more than actually evolving the series and making full use of the storage capacity of blu-ray and the console hardware.
Oh, and the UI needs first aid, thing's a mess, it seems like they're sort of rebooting and returning to the roots with GT 6's UI, that's a good thing.
Yamauchi seems too intent upon expanding one feature at a time rather than lift the entire series in a steady pull, there are a lot of things missing for this to be the ultimate racing sim, especially since there are actually other relevant racing sims on the market now, as opposed to the mid 90's (on PC especially).