Sadly, citing off topic ChatGTP woes and reducing Americans to a broad generalization is not a sign of intelligence either.
Now, I don't know what is this percent, but let's give it a name: the ChatGPT percentile cut line.
My intuition says this line sits to the left of the median, so in a sense you are right, meaning that fewer than 50% of people have a measurable intelligence lower than this line.
However, it can also be higher than 5%, and this means many millions of people can be easily replaced by an automation tool, without any bad consequence.