Even Disney+, which is a retarded bandwidth hog compared to every other streaming service, uses about 8 mbps. A 50 mbps speed is enough for 6 simultaneous Disney+ streams.Well, many of us have moved on to 4K HDR televisions and programming. I get 4K from Netflix, Amazon Prime, Disney+, and even Vudu. Since there's more than one person in our home, we might have two or more 4K streams at once.
Also, almost everything I do on the web is faster for having 1 Gbps service from AT&T Fiber. I download and upload documents all the time, as well as images, and occasionally video. Windows 10 updates are also faster to download, as is everything else – Linux distros, the latest version of Golang or Python, Office updates, etc.
I'm not saying no one "needs" more than 50 mbps, but a lot of people severely overestimate the bandwidth necessary for smooth operations of their services. I think a lot of it has to do with marketing by ISPs.