I want you to imagine an automobile tire that lasts 50 years and costs 50 times as much as a normal tire.
What is wrong with this picture?
First, the average automobile is not going to be around for 50 years.
Second, the average person is not going to make a huge upfront expenditure. Sure, it would save them money over a fifteen year period, but no one operates that way. They don't have that kind of coin to drop in one chunk. But they do have a dollar here and there to spend when they need to.
Perhaps this $50 light bulb would be a big hit with the government for use in its buildings. Uncle Sam can throw a lot of money around and doesn't care if the bulb will outlast the building.
I will probably be buying the home I will spend my retirement, and the rest of my life this summer. As the existing bulbs burn out, they will be replaced with LEDs. The idea of never having to change that bulb again is very attractive, as are the energy savings.
And as the technology progresses, the bulbs will get better and cheaper. And you poor rednecks are going to look so backwards hoarding your early 20th century tech.