Sorry, video games, even this one, are still built around video game engines. Even an existing story (most video games stories are existing stories meant to fit the engine) are used after the fact. The base is always the engine. In this case, it's the Rosckstar engine. It's still the core of a video game. This drifts more from the norm, but even then the engine is still the basis and the story is built around it. Heavy Rain deviated the most from the norm. This one not as much. Plus, the big negative, is the fact your choices have little to no ramifications. The reason for that is it's built on a 3rd person shooter, not a RPG engine. So it lands in the realm of tv/movie style entertainment. Sorry, I don't think this stands up well to good tv or good movies. It's still a good story for a video game, and I think that is one of the reasons it begins to fail. They need to throw in contrived 3rd person shooting and chase scenes. That is because they built it around the Rockstar engine. If it was built from the story and an engine built around it, the game would have been much better. Yet that is still the state of the industry. A gameplay engine is built with generic ideas, and a story is built around it. Sure, the story can already exist. Yet the story must fit around the engine, not the other way around. Until the opposite happens, you will never see a truly great movie like game (like I stated, Heavy Rain comes the closest, but even then it's not about to win an Academy Award).
BTW...Valve is probably the closest one to building an engine around a story, but even then the engine is meant to be used for many purposes (as shown by the fact the Source engine is used for a ton of games). Until an engine is a purpose built engine for a specific story, and not for gameplay, video games will continue to be weaker for stories. It's just the way video games are. Major movie studios and directors (including Spielberg) understand the difficulty in telling a story based in a video game. This game is a good effort, and step in the right direction. Yet it still suffers from the same thing video games have suffered from for years.