I got the MM5 for many years, bought one right after it hit the market. Since day one it is my main axe, it plays any style of music and how. Exchanged the bridge to a Badass V, works like a charm. Just make sure you get one with a strong and solid low B string, some of the MM5 I've played in stores had a really weak low-B...don't order it online! Check it in the store before you buy!
The Ibanez SR5005e is a nice bass too, but sound wise it has nothing to do with the MM5...you can't really compare those two.
On the MM5 make sure you use only 1-3% of bass & treble boost when set to active. I had it set too high in the beginning, makes it muddy an clanky at the same time. I saw on YT video that MM switches it to passive when playing fingers, so you get more mids. Funny, i naturally did the same thing...passive for fingers, active for slap.
MM5 is like a wild horse, takes you a while to get it under control, but when you got it baby has a dynamite dynamic...makes you play. Ibanez SR5005e is way less dynamic and less explosive sound...all a matter of taste