I'd maybe pay it for a game that had been out a short while and had strong reviews from actual gamers, like Demons Souls.
Anyone paying that sort of price to beta test the latest unfinished Battlefield, COD, Fifa, or other yearly generic trash, are the purest form of idiots.
Also goes for any game that announces plans for paid DLC content down the line. Like the rip-off Left 4 Dead game Back 4 Blood that's releasing in couple of months, trying to charge £60 for a base game that is going to have a £30 annual pass for additional content. And to have a good ongoing experience on multiplayer you're going to need that extra content. Disgusting chancers.