Well, it IS a lot, but people die all the time. And given that it is unclear how many of those 5M are deaths FROM covid vs. WITH covid, all-causes mortality should be considered.
From Our World in Data:
Global deaths, 2019: 58.39 million
Global deaths, 2020: 59.23 million
Meaning, about 850,000 more people died in 2020 than in 2019.
According to macrotrends.net, the global death rate of 7.612 per 1000 people in 2020 was slightly higher than 2016-19 (2018 being the lowest at 7.546), but lower than 2015 and every year before that.