Your post seems to imply the only financial requirement is to pay them 50,000 Baht for the visa.
However you don't mention the other financial requirements, which I reckon would be the major stumbling block for a lot of people (especially retirees).
You basically have to have a yearly income of $80,000 or more - either from a pension if you're retired or from work if you're not.
Alternatively if you're retired and don't meet the income level, you have to invest at least $250,000 in "Thai government bonds, foreign direct investment or Thai property."
Full details are on the link below - it's a lot more complicated than you make it sound.
Guide to Thailand's new long-term resident visa from 1 Sep 2022