This is not a simulation of a black hole, but rather an image filter that emulates one particular effect.
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If you want to read more about what it's going to do, I wrote a blog post about it on the mission website: https://www.blackholeexplorer.org/bhex-blog/lupsasca-stateme...
5x is actually a lot: we'll be able to resolve the "photon ring" of orbiting light around M87* and Sgr A* (the two black holes previously imaged by EHT at lower resolution) and likely see the "shadows" of another 6-8 black holes, with the possibility of estimating the mass of another ~20-30 sources.