That may indeed be correct at least in some circumstances; maybe it at least works with some capability of the offical supply. In my experience I have had to use usb_max_current_enable=1 and PSU_MAX_CURRENT=5000 to get it to shut up and work.

Here's the thing though; the simple fact that we have to even have this discussion because the Rpi5 continues to be super damn weird is enough evidence for me that the platform has jumped the shark. I don't know whether to blame Broadcom or the Pi Foundation, but the Pi 5 suuuuuucks. Man, I wanted to love it though; it's the only board I have even been been able to buy from them in the last FOUR YEARS