How many overpriced scam games like this are added to steam EACH DAY should be the real question.
Games like this won't be sold in stores, but the dev can give all the keys he wants to his friends, and try to sell them 5-10$ in retail, justified by the 50$ mark in store. Yup.

As a side effect, or maybe as main purpose, it's convenient to cheat the steamgifts value system.

Intentional dumb pricing.
So that the dev can shill a whole bundle of those games on amazon/ebay and whatever and say "10 random game keys, worth over X" and royally screw over the dumb folks that buy such keys.

Alternatively, the dev is giving these away on steamgifts with the intent of raising their contribution level.
SG usually catches those quick, and sets their contribution level to zero.

Either way - worthless trash, and it helps lower the total CP available by draining it from the bots that automatically enter such giveaways.
Assuming they are configured poorly.

On the bright side, these giveaways are a great way to pad your blacklist with the auto joiners.