5G is just a protocol. It'll be rolled out on low band frequencies because it is more efficient than LTE, but re-farming spectrum is a big deal so they're going to roll it out on high band frequencies first.
If we don't look at the bigger picture we can't look at the wider impacts, the ethics, or any of that. This is something I learned in engineering ethics. It was a required class at my university for engineers for a reason.
I can name GPRS, EDGE, UMTS, HSPA, 1xRTT, EVDO, WiMAX, and LTE off the top of my head and tell you what “G” they are associated with (1, 2, 3, 3.5, 2, 3, 4, 4 respectively).
5G is a vaporous term with no real definition right now other than “whatever the fuck the ITU has decided to call 5G”.
EDIT: I guess they’re calling the air interface “5G NR (New Radio)”. How memorable. Guess with everyone finally getting on the same page with LTE in the current generation they felt no need to come up with a real name.