I would imagine $5k/month is much cheaper than hiring a designer. I don't hire designers but that is a $60k/year salary which seems rather low and then add +40% on top of whatever salary for benefits.
I'm working remotely from my home country and I'm getting paid almost $5000 a month working from home.
Imagine if you want to hire someone from the USA, UK, or other top-tier economic countries how much do you need to pay an 11+ years experienced designer?
At Pentaclay I started with $2500 a month which is almost half of what I'm getting paid as remote designer, so same quality with lesser price with no month-to-month commitment from the client side.