With old champion select, thanks to pick order, they got to choose their roles, so they were at an advantage. But with new champion select, everyone already has an assigned role, one of their best roles, and pick order doesn't matter anymore.
Now, the first picks are prone to getting counter-picked, and the fact that they cannot ban anyone (like hard counters) in response makes that so much worse for them.
The only scenario where being last pick sucks is when you plan on playing the most popular champion in your role, which might get stolen. Otherwise, I love being red team 5th pick.
IMO the first 3 picks should have the ability to ban, as opposed to the last 3.