Yes. You didn't see that there was an asterisk next to the price.

The asterisk says "when billed yearly."
That means you get that price if you pay it all at once.
If you pay monthly, the $7 per month costs you $84 per year.
The annual charge of $50 divided by 12 means you are effectively paying only $4.17 per month. (12*$4.17=$49.94)
Which is a better deal? Paying $84 in 12 monthly payments of $7?
Or $50 in one payment?
Seems pretty clear to me.
However, if you can't afford $50 right now, you can cancel and ask for a refund.
Im new and i might just be stupid but this doesnt seem right i got gold member free trail and it ended and it started paying yearly i thought it was okay cuz it said 8 dollars a month but then my chess.com takes 60 for my account. Idk if this is right. Pls help.