The tags weren't $50, they were way cheaper, there was a $50-$75 trophy fee, like lions, when you killed one.
Whether you want to believe it or not, the Spring season was the nail in the coffin...1993 or 1994 was the last spring hunt and it was limited quota (I applied and didn't draw). IIRC, it went for 2 spring seasons. There were at least 2 really dandy bears killed during the spring, one with a borrowed 30-30.
IMO, the fall season would have eventually gone away either way, but the Spring season drew a boat-load of attention to the grizzly hunt in Montana.
There's no way an unlimited hunt would happen now, and for good reasons. Too many people would know about the hunt, too many long-range rifles, too much fancy glass, gear, etc. to allow people to find success. I bet a 1-3 day season would smash the quota. Its also possible that if it was the same as the old season, depending on the mortality quota, most years wouldn't see a season at all. Too many bears getting killed by the FWP, vehicle collisions, poached, etc.
Its never going back to that, it will be LQ, best case....but do agree that a season is warranted.
The idea of killing problem bears with a hunt sounds good in theory, but never works in reality.