It is 2.4GHz wifi only as the official webpage is up.
https://chordelectronics.co.uk/product/2go/
On one hand, I agree with John Franks that most people can have a 2.4GHz wifi network for streaming and it’ll be fine. Moreover 2.4GHz wifi has much better range. On the other hand, my apartment is so densely flooded with 2.4GHz wifi signal that I personally only have a 5GHz wifi network. As a non-engineer,all I know is that all designs require some compromise. Adding 5GHz wifi would probably lead to other compromises that made Chord not add it.
I also don’t fully understand the cable comment. I have a different streamer. You need power cable to the streamer and you need a USB cable from the streamer to the M-Scaler. If your streamer uses Ethernet connection, there’s an Ethernet cable. That’s it. Not sure what is meant by cables running all over. That’s true for every streamer.