(That price reflects the total if you paid for the gift card, I guess.) Technically, once you use that $50 to cover, say, the iconic Microsoft Arc Mouse, it's an indirect 50% savings on the yearly ...
The yearly service, still $99.99 like it is on Microsoft's website, comes with a free $50 Amazon gift card — a circuitous savings of 50% when you use that free $50 on another purchase.