Here's the issue I've had using a punch.
First, you have to find a punch long enough to fit into a 50 BMG case. That means the tip has to be long enough to extend from the punch and through the flash hole.
Second, the punch has to be made of quality steel to last. Hammering out the primers takes a toll on the punch. I've ruined a few hammering on military crimped primers.
The other thing about the punch and punching primers out this way is the flash hole. You have to keep a good grip on the punch as you don't want to slam the punch into the flash hole. You risk fracturing the primer pocket and ruining the brass.
Or if you shoot matches and are anal about your brass. Slamming a punch into the flash hole can cause burrs around it. That will mean that you'll have to add a step and buy a flash hole tool that removes those burrs. It's normally a one time thing but if you use a punch everytime, you'll need to debur everytime...
I think it's cheaper to buy once, cry once and buy a dedicated tool. A quality punch might cost you about $10 but only go through a couple hundred pieces of brass. A junk punch might only last a hundred or less. A dedicated tool has a replaceable tip that you can usually get for free if you contact the maker.
Choice is up to you, either way works but for me a dedicated tool is easier.