Yes, you are correct in the assumption that the next statement of self.laser_forward > 5 would be self.laser_forward <= 5, but technically, laser scanners have a “deadzone” in the minimal distances.
Therefore you have three conditions:
If self.laser_forward > 5 : move forward and turn with higher speed.
If (self.laser_forward < 5) and (self.laser_forward >= 0.5) : move forward slowly but don’t turn
If self.laser_forward <= 0.5 (the else condition) : stop the robot.
The laser probably has a dead zone under 0.5 m, so any distance under 0.5 m might be undetected. So, to avoid unwanted collision, the robot is stopped when laser detection is under deadzone range.