Verticality was only a quickly passing fad - but everybody remembers it.
Many CD players were vertical then, including Technics' own SL-P10 (originally named SQ-CD10 and fairly different in looks as well as in technology btw) and, as CD was taking the world like Attila the Hun did some time before hi-fi was invented, a few tricks were thought necessary to renew the old LP format for its last remaining years. Some tried the "sound-burgers" (AT, Dual and others), some went vertical - mostly Mitsubishi and Technics.

The SL-V5 is part of the rare ones as it seems to have sold very little ; it was also, even more briefly, available in Technics' brow-ish finish.
Whatever the colour, the V5 isn't up to an SL-10, of course, but providing one uses a fair cartridge, it will indeed provide a little sonic surprise. And using it is a pleasure : press the button at the top, open the door, place your LP inside, close the door, press play - et voilà : MUSIC ! No CD player can ever duplicate the simple fun of this - except vertical ones ;-)

I for one enjoy the simplicity of my SL-V5, the excellent sound of it (...with a Fine Line stylus) - and the looks are indeed second to none. It just is a pity no MC cartridges seem to exist nowadays for the T4P mount...