Consider an air-dielectric coaxial cable:
A larger inner conductor reduces the b/a ratio and therefore lowers the characteristic impedance. This can improve power-handling capability under the relevant conditions, but it also introduces structural and loss trade-offs.
A smaller inner conductor increases the impedance and moves the design toward the lower conductor-loss region of an air coaxial cable. However, power handling, mechanical strength, and physical dimensions then become important concerns.
In real engineering, engineers have to balance power handling, transmission loss, physical size, manufacturing difficulty, and system compatibility.
There is a fairly wide range between 30 ohms and 77 ohms. 50 ohms sits within this range as a practical compromise. It does not favor the power-handling extreme or the low-loss extreme, but provides a balance that is easier to accept across a complete RF system.
There was also a practical manufacturing consideration.
Early coaxial structures could be built using readily available standard copper tubing. For example, a coaxial geometry using a 3/4-inch inner conductor and a 2-inch outer conductor gives a characteristic impedance of roughly 51.5 ohms under an ideal air-filled approximation. That is remarkably close to 50 ohms.
This made a value near 50 ohms practical to manufacture using available materials and dimensions, helping reduce engineering and manufacturing difficulties.
So 50 ohms was not adopted simply because it was the exact average of 30 and 77 ohms, nor because it was mathematically “perfect.” It was a practical value that satisfied electromagnetic performance, available materials, manufacturing considerations, and system requirements.
Over time, that practical compromise became a widely accepted RF interface standard.