You win some, you lose some. Comparable process on my E46 and E39: Drain plug out (potentially flipping a little dust cover out of the way). Drain plug in. Stand up because everything else happens up top. Unscrew filter housing. Replace filter element. Replace filter housing. Fill.
Hello, fellow E39 owner. Mine is my first BMW, and for all I hear about over-engineering from them, this has been a pretty straightforward car to work on. As "complicated" as the suspension is, for example, it was pretty simple to replace everything. I suppose that reputation has been earned from their more modern cars.