$50 is for the pro category which will be competing for $500 first prize and depending on the total number of entries, top 10 could get paid their entry fee back at a minimum. Believe it or not it costs money to put these events on, and sponsors are more into giving product than cash. So if you don't like the pricing, write a letter to your favorite manufacturer and ask them to support the grassroots events with CASH. That would help me a lot.
PW