the argument of a 50mm vs 40mm obj in terms of gathering light, i cant really give you a factual answer,
Ideally the brightness of any telescope, rifle scopes included, is determined by the diameter of the exit pupil. It would take too long to explain what the exit pupil is but you can easily calculate its diameter, it is just the diameter of the objective (front) lens divided by the power. If the exit pupil diameter is equal to or larger than your eye's pupil diameter the image brightness will be equal to what you see with your naked eye. If the exit pupil is smaller than your eye's pupil the brightness will be less than what you see with your naked eye.
In low light conditions the pupil size of individual human eyes varies but the average for all of us is right around 6 mm and that is the nominal size that optics designers design around. If you have a 40 mm objective you can go up to 6.7X before you start to see a decrease in brightness with increasing power. If you have a 50 mm objective you can go up to 8.3X before the brightness starts to diminish. At a given high power, say 24X, the 40 mm scope has an exit pupil of 1.7 mm while the 50 mm scope has an EP of 2.1 mm so it will give you the brighter image. Your eye does not respond to light level in a linear fashion so the 50 mm scope does not appear to be 2.1/1.7 or 125% as bright as the 40 mm at 24X. You may be able to detect the 25% difference though.
At noon on a sunny day your eye's pupil constricts to protect your eye against the bright light. I do not recall how much but I think it is unlikely that you would see a difference between 40 and 50 mm scopes even at 24X under full sunlight conditions.
Any scope, even poor ones, have to be made from at least cheap optical grade glass to produce a sharp image with little enough color fringing to be useful. Optical glass transmits light with high efficiency so there is not a great difference between "good glass" and cheap glass. However there are a
lot of air to glass interfaces in a rifle scope and each one will produce light robbing reflections unless
every surface is coated with
high quality anti-reflection coatings, which add considerable expense to the scope. It is a technical point but good "glass" is almost always a question of good coatings rather than the glass itself. At least when you are talking about image brightness. A scope with excellent coatings will certainly give you a brighter image at all powers than the same sized scope with poor coatings and it may outperform a larger scope with the same poor coatings as well.
Other desirable features of a scope like image sharpness and freedom from color fringing are controlled by the quality of the surface finish on the glass (sharpness) and the quality of the glass itself (color). Well crafted lenses are more expensive that so-so lenses and the "extra dispersion" (ED) glass that is used in the finest telescopes to reduce color fringing to nearly zero is also quite expensive, though at least rifle scopes need use very little of it compared to a world class 10 inch diameter astronomical telescope.
The bottom line is that mid range scopes can be made to high enough standards to allow them to be competitive with high end scopes. There will be a difference but is it enough to justify the price?? Individual opinions will always vary on that matter. Cheap scopes though will definitely take a noticeable hit in performance and the decision to upgrade from cheap to mid level is a no-brainer if the wallet allows.
I am talking about optics only here, there are a host of other differences between cheap, mid, and high grade scopes that should also be considered.
Ken