I can't answer for other M2 machines, and I haven't bought a new Mac laptop since 2016, but 5 cycles makes sense. It needs to go through testing, imaging, and calibration before leaving the factory. The battery is rated for 1000 cycles before it loses more than 20% capacity, so that's not even 1% of its rated prime life.
If that was actually true, it would mean the hardware had not been powered on for, what would seem to be, a requisite test that it did, indeed, function. And, if the battery cycle count was reset to zero after such a likely test, it would mean Apple was lying to you.
Neither scenario seems likely. I would think 5 power cycles would be perfectly normal for a brand new Apple product.
According to this and several other places I've searched, it's normal for a battery to have a cycle count of about 2-7 out of the box. And I would be a little worried that if it was 0 out of the box, there would be no battery testing.