When viewing dependencies on the web site for a package that targets .NET 5.0 the UI reads '.NETFramework 5.0' which I believe is incorrect.
Publish a package that targets .NET 5.0
Should display ".NET 5.0" instead of ".NETFramework 5.0"

Great catch, @f2calv! Essentially the problem here is that NuGet.org is using an older version of the framework definitions prior to the introduction of .NET 5.0.
We'll need to update the newest version of these definitions and reprocess packages that have .NET 5.0 dependencies.
/cc @zkat @nkolev92, is there a version of NuGet.Frameworks that we should be using for stable .NET 5.0 framework parsing?
Note to the server team: I think feed2catalog and perhaps even catalog2registration need to upgrade as well because they interact with dependency group metadata as well.
/cc @loic-sharma, who recently updated the package versions used on the server side. We may already have the version we need and just need to deploy it then reflow the packages.
My guess is other package feeds will run into similar problems. It may be worth an announcement about the introduction of the TFM and how it interacts with NuGet client and server implementations.
@joelverhagen
5.8 early previews have all the changes necessary.
Anything above 5.8.0 P2 should work, but prefer the latest.
edit
Please use P3. Certain changes were done to DotnetFrameworkName in P1/P2 that were reverted in P3.
cc @zivkan
Note to server team/whoever makes the fix:
NuGetFramwork.DotNetFrameworkName is designed explicitly to be compatible with System.Runtime.Versioning.FrameworkName. As per the .NET 5 TFM spec, this is not the recommended string for display. Please use NuGetFramework.ToString() to get the recommended display name.
Here are several variants and how they behave on nuget.org today.
net5.0Example package with net5.0 in the dependency group:
https://www.nuget.org/packages/Microsoft.AspNetCore.Authorization/5.0.0-rc.1.20451.17
<group targetFramework="net5.0">
<dependency id="Microsoft.AspNetCore.Metadata" version="5.0.0-rc.1.20451.17" exclude="Build,Analyzers" />
<dependency id="Microsoft.Extensions.Logging.Abstractions" version="5.0.0-rc.1.20451.14" exclude="Build,Analyzers" />
<dependency id="Microsoft.Extensions.Options" version="5.0.0-rc.1.20451.14" exclude="Build,Analyzers" />
</group>
Currently shows as:

.NETCoreApp5.0Example package with .NETCoreApp5.0 in the dependency group:
https://www.nuget.org/packages/Microsoft.Extensions.Options/5.0.0-rc.1.20451.14
<group targetFramework=".NETCoreApp5.0">
<dependency id="Microsoft.Extensions.DependencyInjection" version="5.0.0-rc.1.20451.14" />
<dependency id="Microsoft.Extensions.DependencyInjection.Abstractions" version="5.0.0-rc.1.20451.14" />
<dependency id="Microsoft.Extensions.Logging.Abstractions" version="5.0.0-rc.1.20451.14" />
<dependency id="Microsoft.Extensions.Options" version="5.0.0-rc.1.20451.14" />
</group>
Currently shows as:

net5.0-windows7.0Example package with net5.0-windows7.0 in the dependency group:
https://www.nuget.org/packages/ReaLTaiizor/3.7.8
<group targetFramework="net5.0-windows7.0">
<dependency id="System.Configuration.ConfigurationManager" version="5.0.0-rc.1.20451.14" exclude="Build,Analyzers" />
<dependency id="System.Drawing.Common" version="5.0.0-rc.1.20451.14" exclude="Build,Analyzers" />
<dependency id="System.Resources.Extensions" version="5.0.0-rc.1.20451.14" exclude="Build,Analyzers" />
</group>
Currently shows as:

I will loop with PMs to find the desired behavior (especially in light of platform)
Note, those same packages as displayed by the VS PM UI:
https://www.nuget.org/packages/Microsoft.AspNetCore.Authorization/5.0.0-rc.1.20451.17

https://www.nuget.org/packages/Microsoft.Extensions.Options/5.0.0-rc.1.20451.14

https://www.nuget.org/packages/ReaLTaiizor/3.7.8

See also: TFMs in the UI from the .NET 5 TFM spec. It's aimed at VS, but if gallery wants a similar experience to VS, it might be relevant.
After the latest deployment of NuGetGallery where we updated our version of NuGet.Frameworks, all .NET 5.0 frameworks are showing as ".NETCoreApp 5.0". The platform information is completely invisible, per https://github.com/NuGet/NuGetGallery/issues/8268. We are waiting on word from PM on what the desired UI should be.
The fix is now in PROD. Thanks for reporting this, @f2calv, and for the details everyone!
Most helpful comment
Great catch, @f2calv! Essentially the problem here is that NuGet.org is using an older version of the framework definitions prior to the introduction of .NET 5.0.
We'll need to update the newest version of these definitions and reprocess packages that have .NET 5.0 dependencies.
/cc @zkat @nkolev92, is there a version of NuGet.Frameworks that we should be using for stable .NET 5.0 framework parsing?
Note to the server team: I think feed2catalog and perhaps even catalog2registration need to upgrade as well because they interact with dependency group metadata as well.
/cc @loic-sharma, who recently updated the package versions used on the server side. We may already have the version we need and just need to deploy it then reflow the packages.
My guess is other package feeds will run into similar problems. It may be worth an announcement about the introduction of the TFM and how it interacts with NuGet client and server implementations.