That is completely missing the Bayesian worldview, which says you should assign a distribution to the probabilities. A uniform distribution of probabilities, 0-100%, is not perfect, captures the uncertainty better than a point distribution at 50%.
I am holding a pencil right now. Is the eraser at a higher altidude than the tip? Maybe, maybe not. Is that 50/50? Would you be willing to make a bet from me at 1:1 odds, that the the answer is yes?
I am holding a pencil right now. Is the eraser at a higher altidude than the tip? Maybe, maybe not. Is that 50/50? Would you be willing to make a bet from me at 1:1 odds, that the the answer is yes?