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The AL of the '50s were a different era. There were only 8 teams, so about half the teams to beat as now to make it to a World Series. They played only 154 games vs 162, so there were less innings to wear out the pitchers. There were far more complete games. No playoffs: you win the pennant and go to the WS. Teams also controlled players and could keep dynasties without losing players to free agency.
Has the talent been diluted and dispersed in the era of expansion and free agency? Maybe that doesn't matter so much as, all teams are in the same boat, but there might be a larger talent gap between the elite players and the #15-25 players on the rosters. That could make the value of the stars that much greater, as well as the need to have the better scrubs (no holes).