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If they clarify that the PHB is 500-odd pages long with all of the races/classes that were previously in all of the 4E PHBs, I think a lot of people will be happy with that. The PATHFINDER core book's RRP is also $49.95 (£30 here0, but is so huge it's quite reasonable value for money.
If it's another 200-300 page book with iffy artwork, I don't think that will go down so well.
Speaking only for myself, I seriously hope the book is much closer to 300 pages than 500. The PF Core Book is too large for convenient use at the table (and especially too large for reading in bed :P).
Anyway, I'll be happy to pay $50 for the book, even if that means $150 in total for all the core rules. That would only be a drop in the ocean compared to what I've spent on 3.5, 4E, and PF over the years, not to mention the various other systems I've bought core rules for but never played ;)