no its not related to thickness of the oil.
all 5w-50 oils are most expensive oils in any manufacturer range since they have superior additives to make them work in different driving conditions and environments and they keep on lubricating the engine in the recommended range.
5w-50 for understanding purpose means that it has same viscosity at start up (like any other thin oil) at 5w.
50 means it would have same viscosity as any other 50 weight oil under extreme conditions.
if you look closely all 5w-50 oils have engine protection mentioned on their boxes. all 5w-30 are more inclined towards efficiency and fuel saving.
hope this clarifies.