i'd like the MacBook to go to the faster one when possible, does it do that automatically?
That's the theory, and it works well most of the time. One thing that a lot of users are not aware of though.......5 GHz is capable of faster speeds......but......5 GHz signals are much weaker than 2.4 GHz signals.
So 5 GHz works well when a Mac is in close proximity the router.....the same room or an adjacent room. But, if the Mac is several rooms away from the router, the 5 GHz signal will be much weaker (and probably slower) than the 2.4 GHz signal at that location.
If I log onto the WiFi in my office, where I have an AirPort router, the Mac will connect to 5 GHz. If I walk the Mac down the hall, it will switch over to connect to the 2.4 GHz network.......because the 2.4 GHz signal is stronger at that location. When the Mac moves back close to the office, it connects to the 5 GHz signal again.
None of this would happen if you have assigned separate names to the 5 GHz and 2.4 GHz networks. For example if I set things up this way and connected my Mac to the 5 GHz signal in the office, when I moved the Mac a few rooms away, the Mac would continue to try to stay logged on to the 5 GHz network........even though the 2.4 GHz signal would be a stronger and likely faster connection at that location.
i believe i only created a separate network name because i have Lifx wifi bulbs and they only operate on the 2.4, so at some point their support told me to rename one of the networks so i could make sure i was onboarding them to the correct one. i will leave it with the same name, i prefer it that way. hopefully no problems arise from the bulbs.
I think what the support folks likely meant to say was that the bulbs cannot connect to a 5 GHz network. But, if you have the AirPort set up as a simultaneous dual band router using the same name for both the 2.4 GHz and 5 GHz bands, the bulbs should connect to the 2.4 GHz. band......because they cannot connect to a 5 GHz signal.
I have several devices here........a camera controller and garage door opener, for example.......that can only connect to a 2.4 GHz signal. They connect to my simultaneous 2.4 GHz and 5 GHz dual band network just fine. Chances are, your 2.4 GHz devices will connect to a simultaneous dual band network just fine as well as long as they are not really old products.
For users who might want their devices to always connect to the 5 GHz signal because the devices will all be close to the router, it might make sense for them to name the 2.4 GHz and 5 Ghz networks separately. That way, they can "force" the devices to connect to the 5 GHz network. But, if the devices are going to be close to the router, they should connect to 5 GHz anyway if the AirPort is set up to use the same name for both the 2.4 GHz and 5 GHz bands.
So the bottom line......at least in my opinion.......if devices will connect to your network when you use the same name for both the 2.4 GHz and 5 GHz bands, things will be a lot simpler that way. Somehow, the simpler networks always seem to have fewer problems than the complicated networks, but it's your call.