A $50 mic isn't something that he'll be using for live performance, or at least I wouldn't think one would. Low end microphones tend to have cheaper components, and will feedback much easier in normal situations where a good (more expensive) mic won't. If you are looking for something as a gag gift then the $50 one (or even less expensive in that case) will do. If you're looking to get him something that he can actually use, then you'll have to put up a bit more cash. Here's a good example:
Shure Americas | Super 55 Deluxe Vocal Microphone