I've tried to read as much of this as possible, but some of the partisan and emotive responses are simply idiotic.
1. It's not a reward, it's an apology. BioWare are saying sorry for their lack of 50 content. If you're not 50 yet, they've nothing to apologise for.
Complaining is akin to EU players complaining that US players got a 3 day credit for a 3 day server downtime that affected the US only.
2. "I play this for the stories" isn't a valid excuse for not being 50. The story extends into level 50 and beyond, so if you're sitting with 8 level 35's then you seem to have a low attention span.
I play this MMO for stories too, and I completed my Marauder's story quest before doing any level 50 content, despite hitting 50 halfway through the last planet. I actually find it surprising that anyone can finish their story before 50, especially as alt-aholics are likely to be rested often.
3. "I work/have family/don't play often" IS a valid excuse for not being 50. This is just a game and even if you've subscribed from launch and play when you can and you're still lvl 43, that's okay. Why do you feel entitled to a credit for a game you rarely play and have invested so little time in?
I get that people see others getting a freebie and want to moan. You need however to accept that when playing an MMO, these things happen. MMO developers have to try to walk a tightrope of player opinion but player's have a HUGE range of opinions. Don't let this change how/if you enjoy this game.