I've been poking around music stores in search for the ultimate 5 string, and everywhere I go somebody, be it hired help or just interested parties is trying to jam some Fender or another down my throat. Just so's you know, I only looked at the higher end models, so no Squires. Sorry, give me made here or go away, anyway, under the 'bang for your buck' in looks, finish, playability,weight I find they're wanting, not to mention the damn things eat up a lot of real estate. So someone explain why all the hype? Or has Uncle Leo worked the hoodoo on you too?
2 days and 10 pages! Nothing quite like questioning the Fender "mystique" to get the keyboards rattling.
First, if you are in search of the "ultimate" 5 string, you're going to have to work through probably 6 - 8 really expensive instruments - Alembic, Smith, MTD, Sadowsky, Alleva Coppolo, Zon, etc etc - before you are going to begin to have the slightest concept of what works best for you. And no one on this board can tell you any different.
And, yes, Fender would make that list, because they do make some fine instruments.
In particular, you need to be aware that making a quality 5 string is not just slapping a 5th string onto a 4 string instrument. The neck on an electric bass is a surprisingly complex thing to get "right," and this is even more the case for a 5 string than a 4. I believe this is also a particular trick for a bolt on neck, and many of those makers spent considerable time on the bolt on 5 string neck technology. Whether or not the extra effort is really worth it for the few extra low notes is somewhat dubious, but I can't argue that a good 5 string is really useful.
So, you will also find a lot of ho-hum to dud performers out there in the music shops, even from solid companies; and especially in the 5 string game.
And, Fender would make that list. So, be warned.
But, just because you might happen on, say, a Lakland 5 that you like and that Fender the sales guy threw at you sucked, doesn't mean that Fender sucks.
Historically with 4 stringers, Fenders have had a tone that sits well in a mix, they are comfortable, reasonably priced, and what everyone expects to see and hear. And, with typical production variability, there have been some real gems that endeared themselves to players.
So, when players began looking for 5 stringers, there was immediately a lot of interest in Fenders. Seems normal. Problem, as described above, is that getting the 5 right takes some serious elbow grease. And, in fact, the good 5 string Fenders are NOT just a 4 string Fender with an extra string. They are different beasts.
If you want a good 5 string Fender, you will need to seek out the Marcus Miller 5, the Victor Bailey 5, the Custom Classic 5; and I would try to find one of the old P Deluxe 5's (though they don't make them anymore). Along the way, you will encounter a bunch of good 5's made by Lakland, MusicMan etc etc; and you may decide you like those more. That's OK too.
Or maybe you will spec out a $20k snazzy Alembic. That's OK too.
IMO/IME, if you are looking for the most solid construction/useful tone/low cost 5 string out there, find a MusicMan StingRay 5 on the used market. at about $800 you can't do a whole lot better.
So, the Fender thing isn't hype, but based on decades of real experience by knowledgeable players. And, yes Leo did work the Hoodoo on us, because how on earth he got everything so right seemingly the first time stands as one of the seven wonders of the natural bass world. (Did I mention that he created some of the other competitors that you might try, though I believe never a credible 5 string. That was left to others to sort out.)
, "The Fender Bass" (as the instrument was exclusively known in the late '50s) absolutely defined the look and sound of what we now (quite rightly 
) call the "electric bass guitar" (although this smilie appears to suggest otherwise ...
) 
!
(only speaking for myself, as I don't enjoy being in the studio AT ALL) 
