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Fastmail has three current tiers: Basic, Standard and Professional. Basic is $3/user/month, Standard is $5/user/month and Professional is $9/user/month. None of them are remotely close to $50/month for ordinary single users. You would need 10 users to get to $50/month for the Standard "non-lite tier" plan.

Perhaps the user has confused fastmail with another service or they might have some legacy plan which is more expensive than it needs to be. (I think I have a legacy plan...)

Isn't most legacy plan less expensive? I have legacy plan that's basically the current Standard plan but at $45/yr.

Could you link to the iCloud announcement that says it'll start supporting custom domains? I saw that it will support disposable addresses, but didn't notice anything about custom domains.

https://www.macrumors.com/2021/06/08/icloud-mail-custom-doma... - it wasn’t discussed in the keynote but it showed up on the iOS 15 new features page

I don't think Fastmail has any plans that are $50/month

More like $5/month. Or $50/year