While a 5w-40 might be suitable, some are better than others. Just like a Perodua is suitable for getting from A to B, but a Type R is better at doing it. On paper they are both the same thing (a car, three doors, 4 wheels), but there is a reason one costs more than the other.
Why wouldn't Halfords own brand oil be like other basic own brand oils? I'm not saying it definately is a 20w-40, it could be a 15w-40, 10w-40 or if correct, a 5w-40, but no matter what, the quality is lower than a top spec oil.
Cheers
Tim