I didn't quite have five moves in ten years and they weren't all lateral so this isn't me but I have a resume that some people didn't like because of high frequency moves due to early stage start-ups. My resume took off when two of the companies I worked with got acquired by Shopify, but before then having a high frequency of moves was viewed by some as a negative.

Keep in mind moving every two years is common in tech especially in companies that don't give four year option plans because you often get a token 1% raise when inflation is hovering around 8%. This means you're roughly 15% behind after two years with compounding. If you're a senior engineer making roughly $200K, that means you're often getting around a $30K raise to move. I think some people have careers that cap out at senior and that's okay. Not everyone makes staff or principal engineer.