Announced 2+ years ago (almost 3, now that I look: https://www.espressif.com/en/news/ESP32-C5 ) and sampling 1+ year ago, good to see it finally come. 5GHz support is increasingly important.
For a typical consumer home use case continuing to use 2.4 GHz is most likely ideal though. Though some apartment complexes have such bad 2.4 GHz interference even that might not be universal.
5Ghz doesn't propagate very far and putting IoT devices inside your home on 5Ghz makes a lot of sense. With 6Ghz coming on line and being reserved for high bandwidth applications, 5Ghz for IoT makes even more sense.
To an IOT application, it's the difference between chatting with a friend at a quiet outdoor cafe and trying to shout at her in a crowded bar.
Really it's the same reason computers moved to 5GHz, and now 6GHz.