The dialogue sounds really arch. A large part of my family is Latino, some from Mexico and some from Cuba. I have friends who were born in Puerto Rico. No one of Puerto Rican descent would ever use the word "gringo". Mexicans used it a lot in the 19th century. I don't know how often it was used in the 1950's.
I'm going to see the film no matter what. The earlier previews looked really good. This new one not so much.