But the difference is that with a dependent type, you get more guarantees (e.g. my ArrayLengthFive type could actually allow for arrays of length 20!). And the type checker forces you to prove the bounds (there could be a bug in my code when I create an ArrayLengthFive). And the dependent type allows other parts of the system to use the type info, whereas ArrayLengthFive is just an opaque type.
I do think there is room for both ways of working. In the string -> Email example, it's probably enough to parse your string and just call it an email. You don't need to try to encode all the rules about an email into the type itself. But there are certainly other cases where it is useful to encode the data constraints into the type so that you can do more operations downstream.