So including chapter for DMs on running a game justifies the $50 price tag then?
There's considerably more DM-side material in the Pathfinder Core Rulebook that "a chapter on running a game" - all the material about Prestige Classes, magic items, awarding XP, building encounters/adventures/campaigns/settings, the planes, and so on is covered.
Now, you can certainly argue that very little of that material is required, and you can even argue that quite a lot of that material is actively undesirable (the 3e DMG was rightly criticised for it's pages of dungeon dressing - doors, walls, etc). But that's not the point - the point is that the equivalent material is there, and makes the PF Core Rulebook do double duty.
This means that the entry points for comparable games were:
3e: 3 books at $20 at launch, rising to 3 books at $30 on the second printing - total $90 (in 2000)
3.5e: 3 books at (IIRC) $35 - total $105 (in 2003). But note that I might be wrong about this one - they might have been $30 each.
4e: 3 books at $35 - total $105.
Pathfinder: Core Rulebook at $50, plus Bestiary at $40 - total $90.
I prefer a separate PHB-DMG-MM.
Actually, me too - I find both the Pathfinder Core Rulebook and the Numenera hardback too large to be really useful. In both cases, I would prefer they split the material into more, smaller volumes. (And, actually, I really liked the format used in Essentials.)
Unfortunately, amongst other things, a $50 PHB implies that it will probably be comparable in size to either of those two books.
Sorry it to burst anyone's bubble, but the days of $20 hardcover PHBs ended about 1990.
This is true. But as I noted up-thread, if you adjust the 3e, 3.5e or 4e books for inflation, that places them at ~$40 each. So if WotC are going to offer a core of 3 such books at $50 each (which is a BIG 'if', of course), then that's a very significant jump over the adjustment for inflation.
(On the other hand, maybe that $50 PHB is in fact
the game, and everything else is optional. In which case 5e suddenly has a
very appealing entry route.)