The problem was that CDPR had absolutely no experience with modern-like urban settings for their games, unlike what Rockstar has essentially done for years. So 'course this attempt was so horrendous; not to mention the CDPR also spent way more resources for marketing and hype, instead of not crunching their developers and focusing on actually making Cyberpunk at least viable at launch.
Though I wonder how Rockstar's attempt at a medieval open world setting, on the flip-side, would like at their first; then compare that to any of CDPR's Witcher games... though that tangent is theoretical obviously, since I doubt Rockstar is going to take a stab a medieval setting style game anytime soon.
I hear that comment and don't find it very accurate or truthful. Lots of companies make an amazing first game (or if its not their first game, its the first rpg they made or that type of rpg).
As for your rockstar comparison
Rockstar's first GTA was amazing for the time considering it was a dos game. 3d wise, I thought GTA 3 was good. Hasn't aged well at all though, but it is really old.
They already did a non-modern setting with red dead redemption (the first one was still great imo). So...a medieval game be more like red dead redemption 2...
As for studio firsts that were really good (various genres of games that come to mind)
Warcraft
Starcraft
Elder Scrolls Daggerfall
Morrowind (okay not the first, but I believe it was the first actual 3d elder scrolls, and bethesda was much smaller back then)
The countless NEW indie games that come out that some are really good, and some made with 1-3 devs...or at least very small studios...
Everquest (an MMO but was one of the first MMOs)
Ultima Online (not 3d, but counts as an amazing game for a first time studio)
Not their first game, but I believe it was their first 3d rpg (Horizon Zero Dawn)
I mean...lots of new games too that are a first, or a studio that made their first rpg after making other games that are really good...and indie games can be really good.
And not like cyberpunk was the studio's first game anyway, they made witcher games before hand. But lots of companies switch themes from medieval to sci-fi or vice versa or modern or whatever and they don't make the most basic broken AI ever made lol.