Chillindan
To the best of my recollection , I may have been one of the 5 in the circuit , I heard an aircraft call and advise joining long final , and eventually observed two aircraft , one had turned base and became final , the long final aircraft approaching straight in , and eventually observed two aircraft in trail but apart , I was on the downwind leg and could see both at all times , it only needs a bit of speed control and distancing to allow adequate spacing in this situation – it certainly didn't appear to me to be anything more than usual weekend busy circuit traffic , if in doubt about spacing or positioning I'd opt for a go around myself or depart the circuit and re-join , which is what appeared to happen in this case.
I seem to see something different every time I fly, and then learn from it, if in doubt about something, I’ll always ask one of my former instructors for advice or opinion,
I’m no longer a student.
This is a good thread with plenty of info/opinion being given with regard the original question posted.
Chillindan continue to enjoy your flying J