I play Gospel , and Jazz , and I've never had limitations with my 4 strings , I've also played on 5 strings and almost never used the B string, it really sounds LOW but...I love when it sings you know ? I'm definitaly a 4 strings guy, and I don't feel limited.
I think Marcus Miller , Stanley Clarke , Victor Wooten and Jaco Pastorius wouldn't be who they are if 4 strings basses were limited . IMO it's just a matter of taste , some guys love to have deep lows so they love the B strings some prefer thiner necks, a better B string,shorter/ sweeter scale lenght. (most 5 strings are 35")
But it's also hard to find a "decent" B string, the best I've found was on Abe Laboriel's bass ...and that's a 3000 $ bass..and that's Abe , you know what I mean ?
And you can play E flat on the A string