Yep, those are their recommendations. Other shock manufacturers recommend replacing shocks every 50k miles too.
In my experience, if the shocks are not keaking anything, they are fine to go past 50k miles.
I rebuilt my 2.5 res fox shocks on my 4runner at 60k miles, which had some hard off-road miles on them. The only thing wrong was the fluid was a little bit dark. No leaks at all. After the rebuild, I didn't notice a difference.
On the other hand, I had Icons and FOA shocks that required constant rebuilds with in a few thoasand miles.
I only used Kings for a little bit, but will put them above Icon and FOA in terms of reliability.