With an extremely fresh vial or smack pack, you can make up to enough yeast for a 1.140 ale without any stepping up at all, and with just a single step you could theoretically pitch into an ale bigger than 1.400! To give a bit of extra perspective - you would grow about the same amount of yeast by pitching the first step into a basic 5gal batch of starter wort!
Basically, the ability to make very sanitary starters with so few step-ups - and even then, only under pretty extreme circumstances - makes a 5L flask an incredible piece of equipment to have, and I'd consider it absolutely indispensable if I were making 10gal (or larger) batches.