Assuming by "tempo" you mean LT, I strongly disagree. LT pace in training is very difficult to sustain for an extended period, which is why so many coaches prescribe broken tempos or cruise intervals. It's also why Friel prescribes an all-out, 30 minute time trial as a method of finding your lactate threshold heart rate--he finds that outside of competition, most athletes can only hold their 1-hour pace for about 30 minutes. (I disagree, but he's basically right that LT feels awfully difficult for most people.)
Of course, you're right that 5-minute pace is LT for a 65 minute half marathoner, but that shouldn't be controversial--LT is roughly one-hour pace.
Yes, periodization and fitness matter, but this all has nothing to do with the actual question here--whether 12.5 flying is sufficient speed to run under 4 minutes. It's just not, and it's not even close. The majority of high school varsity cross country runners in the U.S. can do a 12.5 flying, on any day of the year. I'm a middle aged road runner who never does the sprint work I know I should do, and I can do a 12.5 flying.