Why would you join a tournament if you don't want to win in the first place?
Try to win not to ITM
I think if you try to be ITM(In the money) and don't try to win the tournament you will loose a lot in value if you play a lot of tournaments.
Most of the money is in the top 3 spots either way the rest can be scraps compared to the buy-in. But again this depends on the dynamics explained below.
Dynamics are important
Loosing blinds by not playing and eventually being bust because people don't get bust themselves is a real thing.
There are lots of factor you should look into.
How long are the blinds?
If blinds go up very quickly then folding to hope to ITM is suicide.
How many BB(Big Blinds) people have?
If everyone has between 1-20 BB it's also not a good idea to fold.
Even though you say you're 50th position it does not imply you have lots of BB left.
How aggressive are people overall in the tournament
If people playing there are a bunch of maniacs and gamblers, you can maybe decide the fold approach if the money in ITM is such a big deal for you.
But again i would prefer the approach of calling them with more marginal hands and gambling to potentially reach top 3 spot.
I was playing part of a competition where we would play for 1 year and played tournaments every month. Players would get points based on their position and each tournament money was still part of the equation.
Winning the competition would give you only a cup no money it was more for the prestige.
In this specific case because i wanted to reach higher in ranking folding to reach higher in score was worth it especially when you know the scores of others and they are already busted.