Uncertain if 5% is the ongoing rate, but from memory there's been a while they were unavailable for people looking to get eBay GCs at 5% (as sometimes their rate get reduced to 1.x%). FYI, CashRewards' similar Choice GC currently has 1.5% cashback rate.
The most common use for Swap Gift Card is to swap to eBay Gift Cards.
EDIT 04/06/21: Only $20 is 5% now. Others are 4% only.
Pretty sure it's been 5% for a while and the normal rate. Cashrewards lowered their rate for the True Rewards Choice GC though.