I had the same thought about that other recent Square-Enix release Lost Sphere. (It was developed by their subsidiary, Tokyo RPG Factory.) The game costs $50, and it looks a lot like this Secret of Mana release. If I remember correctly, Tokyo RPG Factory's previous release, I Am Setsuna released for $40, and it looks as good if not better than Lost Sphere. Honestly, it just seems like I could spend the $50 on a different game and probably get more value out of it. For example, Assassin's Creed Origins was $60 at launch, and I've spent over 70 hours in that game.
Likely, a lot of the pricing has to come from an expected level of sales. Assassin's Creed will sell at least a million at release, but according to Wikipedia, I Am Setsuna only sold around 60k at release on the PS4 and Vita (no PC stats available). I remember when I Am Setuna came out, and I heard that it had combat that was reminiscent of Chrono Trigger. Of course, that got me interested in the game, but then I heard that the story and visuals were a bit bland. Also, what really creates the perfect RPG for me is the music. If I won't buy the soundtrack, it will never reach legendary status for me. (The same is true for movies too.)