MGS1, a five or six hour game, by comparison:
Solid Snake is captured and is given a mission by a past Commanding Officer.
Snake meets up with fake darpa chief, who suffers from a heart attack.
Snake meets Meryl and Psycho Mantis fucks with him.
Snake fights Ocelot, Gray Fox shows up, Ocelot loses a hand.
Snake talks to Armstech president, suffers from heart attack.
Snake battles with Vulcan Raven.
Snake battles with Gray Fox.
Snake meets and chats with Otacon, who tells him what Metal Gear is.
Snake meets up with Meryl, she discusses her motivation and past.
Snake battles Psycho Mantis, who reveals his past and motivation.
Sniper Wolf wounds Meryl, Snake is forced to backtrack to save her and continue his mission.
Snake defeats Sniper Wolf and is captured.
Snake either withstands torture or gives in. Escapes.
Snake fights head to head with Liquid. Defeats him.
Snakes fights Sniper Wolf again, defeats her, her past and motivation is revealed.
Revealing of Fox Die/Naomi going rouge.
Snake reaches Metal Gear, attempts to disarm any nuclear capability.
Metal Gear is armed, Miller is revealed to be Liquid.
Gray Fox dies protecting Snake, Metal Gear is defeated.
Liquid explains his past and motivation, Snake defeats Liquid.
Snake either escapes with Meryl or Otacon, Liquid is killed by Fox Die.
Ending.
Most of the game's plot is off-screen either told in the tapes or referred to as events that happened.
Codec stuff in MGS1 and to a greater extent MGS2 influenced the story greatly, but those codec conversations were a lot more important than the tapes in MGS V, barring the tapes revolving around Zero, Strangelove, and Codetalker.
The tapes were really well done, credit is due there. MGSV has the same amount of cutscene time as MGS1, MGS V is a 40 hour game at the very least.