You are correct. Being able to pay a million bucks cash for a second home is pretty elite, financially speaking.
A lot of the structures are a mishmash, some would say eclectic. But what makes the area unique is the diversity between the planned communities - Rosemary, Alys, Seaside, WaterColor, etc. These are embedded in a mishmash of old cottages, concrete bunkers, and other beach homes, townhomes, and condos that are all over the map. I find Grayton Beach, Blue Moutnain Beach, Dune Allen also charming and somewhat unique from each other.
What really makes SoWal unique is the natural landscape. Sadly it is being killed off and a chain hotel is just another nail in the coffin.
Wouldn't it be wonderful if the bay and everything south of the bay had been made a national park a hundred years ago? We caould all be staying in chain hotels on the interstate or in Freeport to visit.
I agree that it would have been nice if everything south of the bay had been made into a national park or a state park but it didn't happen and development brings money to the area. The more growth, the more money. Nothing stays the same. When I first went to Destin, it really was a fishing village but it had a Holiday Inn. The Holiday Inn isn't what ruined Destin.