Pat, I had the same reaction when I played the hole, from both tees over three rounds, in late December. As for other similar par-3s, look no further than the Red course's 8th hole, where, despite the obvious differences in the greens themselves, play is again dictated by the angle of approach from the tee (diagonal to the green from the right tee, straight up the green from the left tee).
As I wrote in my review/photo tour of the Blue, "Five is a brilliant short par-3 with more epic views of the property, including the UFO-like Bauhausian lodge in the distance (that’s not a disparagement; I love the architecture of the lodge and think it fits the landscape perfectly). As on Red’s eighth, Blue’s fifth offers two teeing grounds, right and left, which offer totally different angles of attack—from the right tee, your tee shot is diagonal to the green and therefore presents less margin for error; from the left tee, your tee shot is straightaway to the green, so much so that one could actually putt it from the tee. The relative flatness of the front of the green gives way to a wildly undulating, and downward-sloping back of the green, which actually poses a greater problem for the golfer hitting down-the-green from the left tee. Carry it too far (or hit it too hard without adequate spin), and the ball will no doubt run off the back and toward the adjacent sixth tee. Left is dead, although it’s not quite as bad as the ridge-like falloff suggests. Bunkers on the other side of the ridge will catch at least some balls and allow for recovery shots, although good luck getting the ball to stop near the hole. The undulations and bunkers right are no bargain either, although you can use the slope behind the hole to your advantage."