Palermo is lovely and convenient but certainly pricey. That said, it's not the island of wealth and foreigners that many people think (myself included, a few months ago).
While the boutiques and restaurants primarily cater to tourists and expats earning dollars, there are clearly tons of people who live and work in the area that aren't. There are loads of small fruit & veggie stores, grocery stores, etc that are affordable.
The tree-lined streets are lovely and while safe, maybe not as safe as they may appear. Probably safer than many parts of San Telmo, where I never felt that comfortable anywhere after dark, but not safe either.
My point is simply that while it's in many ways nicer than other areas and I'm glad you've discovered it... it's not any more or less a part of Buenos Aires than other neighbourhoods. It's not some bubble - there's plenty of grit under the surface, and lots to love too. There's this constant battle to deem certain areas or experiences as more or less authentic than others on the board...