I think the problems boil down to rushing the release for xmas and poor expectation management. The idea that people will be able to play something as well on a SEVEN YEAR old console as well as recent hardware is absolutely ridiculous, and PS4/XB1 users really need to get their head around that. However, CDPR didn't manage that expectation and one could argue that they mislead people for sales.
Whether this was a good business decision (loss of money for damage of trust and refunds vs money gained by releasing it early and misleading) we have yet to find out.