Oh it definitely has bugs and glitches - tonnes of them in fact. It's just that Nintendo chooses not to fix them(not that they should, 90% of them are basically people actively trying to break stuff, although some I can see how you could do it accidentally).
https://www.youtube.com/watch?v=gWYmV0bs15w
https://www.mariowiki.com/List_of_Super_Mario_Odyssey_glitch...
And issues have been fixed in patches too, like the first glitch on that list that would lock your camera so you couldn't turn it - that was fixed in a patch.
"If Mario performs a Cap Throw at Talkatoo and talks to him at the same time, the camera will lock into place.[...] As of the February 21, 2018 update, this glitch is fixed"
But there are situations that will literally crash the game to the OS too:
"In the Bowser's Moon Wedding objective, if Mario falls into the lava just as he is about to capture Bowser, the game immediately crashes."