Actually, I have friends who looked a lot like these folks ( in their 20's LOL), and I have friends who live in the triple digits ( or at least before they lost their asses in the stock crisis). They aren't "Hollywood" however, and don't live the glamorous ( read: way too much drama) life.
I would think that this is "real" for these characters/ people. Most of America's real dykes however, don't cruise the Rodeo drive circuit.
Hell for me, because this lifestyle is so far removed from my own, this makes for a high drama series. It's a lot like watching Housewives of whatthehellever county, just so removed from reality ( mine) that I HAVE to watch it! ( ok, besides, the wife holds the remote during those shows!)