Yeah, that's a TN panel as well. 7ms input lag at its native resolution (1080p) + 5ms visual response time like you mentioned.
Input lag only becomes a problem for competitive play when it's higher than 17ms (or one frame). It's only 7ms on this monitor, which is excellent.
The only issue, and this goes for just about every TN panel out there, is that it suffers from poor viewing angles. However, if you're going to view it from close range, this won't be a problem.