It is really fun to be engaged in a rough and intense PVP 1v1 fight only to find out that you both killed each other at the same time.
On the other hand, 50ms is either not much higher or lower than the ping of most players, so it definitely wouldn’t affect competitivity. In fact, it would make things more fair by normalising the lag of those who live close to the servers.
SB is not a “fun mechanic” that improved the game in any way. Its the result of a technical limitation of bygone days, that made the game feel way clunkier and less responsive than it is today in retail.
If someone likes playing with technical limitations, by all means, grab a 1024*748 CRT monitor, get a graphics card with a VGA port, replace your precisionlaser- gaming mouse with good old Microsoft-2-button-brick (Bonus points if you get them in that ugly creamy-white-officepaint coloration), and ask your ISP if they could reduce your bandwith to 512Kbps.