We foreigners are not cheap, we are frugal. Most retirees are frugal wherever they live. When them big checks stop coming in after retirement you have to learn to cut back or go broke.
So we are not cheap but we can be convinced. IF the value for the peso is there. For example, I won't frequent a place with a nice decor that sells bacon and eggs with a sprig of parsley for 300 pesos when there are loads of places that offer the same thing with less atmosphere for half the price.