Should work fine for 5 gallon batches. If you brewed recipes from Jamil's CYBI or Brewing Classic Styles which are 7 gallons pre-boil, you may want to scale them down a bit or plan on topping off at the end. If you put more than 6 gallons in it, keep a spray bottle handy during those hop additions. Good price considering it comes with the valve and thermometer.
My father says, "hobbies are supposed to cost money".