I don’t have my kids in primary school bringing in an own iPad, although it is welcomed by school

I don’t think a 5 year old needs to take an IPad to school, a bit too young.
But for educational stuff at home it’s definitely a good idea( not essential, but a good idea). My sons school has literacy, maths and spelling apps for them to do on the iPad. The school has said they don’t need to take one to school yet.
But each to their own though. Whatever works for you

I wouldn’t because I think the risk of it being broken or stolen is too high.

I don’t think it necessary at all. Later on perhaps but not at the age and for school.

No. Most schools provide ipads to use at school. At primary school it was provided in classes and secondary we had to purchase through school at cheaper price.