"the redemption of their souls is costly"

Kathee and I read Psalm 49 & 50 Monday. I found this passage to be instructive (from Psalm 49):

5 Why should I fear in the days of evil,
         When the iniquity at my heels surrounds me?
6 Those who trust in their wealth
         And boast in the multitude of their riches,
7 None of them can by any means redeem his brother,
         Nor give to God a ransom for him—
8 For the redemption of their souls is costly,
         And it shall cease forever—
9 That he should continue to live eternally,
         And not see the Pit.

John MacArthur says of this passage: "No person, regardless of means, is able to escape death; it is inevitable. This passage anticipates the second death of hell, except for those who by faith have repented of their sin and embraced the only adequate ransom - the one paid by the Lord Jesus Christ with his death on the cross." (MacArthur Study Bible)

The phrase "the redemption of their souls is costly" made me think of "knowing that you were not redeemed with corruptible things, like silver or gold, from your aimless conduct received by tradition from your fathers, but with the precious blood of Christ, as of a lamb without blemish and without spot" (1 Peter 1:18-19)