Yes it is a level of a year's worth salary, but I think it is a wrong way to look at it.
These kind of companies amass billions because of embedding these slogans like that they pay market rates, other people make less and other manipulative stuff.
The pay in those companies is not related in any way to the value workers produce. The question I would have, if the "key" found itself in wrong hands, what % that $50k of potential losses would make?
I'd say it's a tiny %.
It's interesting how IT people devalue their work.