Actually, I think I see the problem, but not sure why....
If you look at the bottom message line you see the specific model number being compiled for along with Flash, RAM and frequency.
Here is how that line compares to mine:
Flash Ram. Freq
Mine. NX:8048K050_011. 32M. 8192B. 108M. 5" Enhanced
OP. NX:8048T050_011. 16M. 3584B. 48M. 5" Basic
What is really strange is the I have no problem compiling it for the 5" Basic.... But both the OP and Justin (K5AXL) reported that they needed to changed to enhanced to compile.
Perhaps we should compare version for the Nextion editor... Again, mine is V0.53