It does seem that the barebones Motorola Moto E is capable of outperforming the TouchWiz-enabled Samsung Galaxy S5 in terms of speed. The thing is, there are plenty of unknown variables in this particular test, as we do not know just how many processes and applications (if any) are running in the background that consumes precious resources and clock cycles, and neither do we know whether the Galaxy S5 has been reset prior to testing.
The Moto E animations do seem to be a fraction of a second faster, including its stock apps, such as entering the camera mode. Considering how an unsubsidized Samsung Galaxy S5 can purchase approximately half a dozen Moto E handsets, it might just change the way you see the little handset that could.