NOT in my opinion but then I don't understand why and how a 3-9 can be in the Vari-X III or VX-III line up anyway. Historically Leupold has primarily used a 3X multiplier in the lower priced lines and 4X in the Vari-X III and VX-III lines. So to me the 3-9x50 just doesn't fit.
It's kinda like the same in the Bushnell Elite 4200 line which is otherwise a 4x multiplier while their Elite 3200 line is a 3X. In both cases they just don't seem to fit. I think both are just trying to make more profit cuz of the 50mm objective.
To me the 3-9x40 makes a lot more sense as it can be mounted lower and in line with your eye. Those huge honking objectives have to be mounted higher and for me are way out of alignment with my eye when I mount the rifle.
You can generally pick up a Leupold 3-9x40 for $150-$175 used. Why would you pay double that for a 50mm objective?