I seem to be in the minority but honestly I was pretty disappointed with this update. As usual the quality is outstanding but...
Phew, finally played Episode 5 and caught up with all the posts (for now)!
I don't share your disappointment, but I do agree with your analysis. This episode was essentially just a series of digressions, giving us a scene or two with each of the main girls and most of the secondary ones. The scenes themselves were good and there are lots of hints, teases and confirmations scattered throughout. But at the end of the day the only things that really advance the ongoing plots are
addressing just what the Maya/Josy/MC relationship is, setting up a big confrontation with Sage/Chad, and the MC and Derek formally becoming DIKs. And two of those are locked to pursuing certain girls.
I'm looking forward to Episode 6, but I do worry that the seams are starting to show from all these crazy choices piling up. The longer this game goes on, the more I think we're going to see the updates focus on short side-stories and put off the real developments for 'later.'