I think what it comes down to is that the word "upgrade" was a bad term for Sony to use, since what it seems like you're actually doing is buying $50 of DLC for the light version of the game. It's bad messaging but I don't think people need to worry about any "dangerous precedents" being set since it falls in line with how DLC works in relation to PS+ games (and all games for that matter, if you don't have the base game then you can't use the DLC for it). They just need to be clearer that you're purchasing DLC and not a game.
The one difference then is that if you let your PS+ subscription expire, then the only way to get the base game (so that you can use the $50 DLC you paid for) is to resubscribe to PS+. So they should probably let people buy the light PS+ version for $5 - $10 just so it brings it in line with how all other games work.
Also the difference between this and the Microsoft situation is that Sony are adding options while Microsoft were trying to take them away (or rather change the existing options to less preferable ones).
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