$50 is equal to about 20 minutes-60 minutes of your time. Chocolat has easily saved me that much frustration and time. So it's worth it for me.
I've used Sublime Text 2 for a year without actually buying it, but I've also been unemployed college student for the same amount of time, so I can't justify dropping $60 on something optional when I could be stocking up on ramen or paying rent.
I've been using Chocolat since the very first public beta and I loved it even when it was filled to the brim with bugs. I've also used SublimeText2 in that time. I can say that for me Chocolat is worth the $50. No, I can't afford it right now so I keep using an unlicensed SublimeText but just because I can't afford it doesn't mean it isn't worth it.
I'm pulling your leg now, but wanted to make a point.
Plus, it doesn't matter if $50 is equal to 60 minutes of my time or not. What it matters is if $50 is a fitting price for such a product.
Would you buy a can of Coke for $50 because it's "equal to 60 minutes of your time"?