Why use time with loads instead of time without loads? Aren't loads hardware based? I'm not planning on running this game this is just a question.

Currently the loadless timer is inaccurate, and manually timing all of the load screens and such is not something anybody wants to do.

Will anyone make a Auto splitter so GTA V is actually fair?

Since loadless is currently not supported, probably not

"Will anyone make a Auto splitter so GTA V is actually fair?"

There already is an autosplitter, and doesn't and probably won't ever have loadless as it currently stands.

Aren’t loads based on hardware? Someone who has better hardware will load faster then those who don’t right? Or is it different with GTA V?