5 subs is stupid. 3 subs were far better. Now, you can replace half the outfield players, which basically means you can change tactics completely. It means more of the result is down to the manager. It also means there’s less need to prioritise which games are important, you can start with your best 11 every game, and just substitute later if the result allows it. It also benefits clubs with bigger budgets more, as they can afford having a higher quality bench.
With 5 subs, bench players and especially academy ones are given more chances, starters don’t get exhausted, final minutes of a game can be more exciting. Also Simeone can field 10 defenders at once, if he wants to keep a 1-0 lead.