If I'm reading it correctly, it's up to the first $500 spent in the top category per statement.... so $25 in cash back max at 5%. Everything else is 1%. If you spend $1,000 in your top category then it's $30 in rewards ($25+$5) per $1,000 or only 3%, not that great. It get's worse if you spend more consistently which pending on your earning there are much better choices. Why would I get that over the BCP?
I would imagine if you have any sort of budget you can maximize that more than ~3%, and probably get a higher ROR for all of the other categories making that even weaker.
I am younger-ish and have a family so I have the Capital One Savor - dining,entertainment,streaming all at 4%, and groceries at 3%. I do also have the chase freedom unlimited which I gave to my wife for general stuff at 1.5% for everything.