Honestly, if the plant is that healthy and happy to be able to support so many blooms for so long, then I doubt it's going to affect the new growths. Just keep doing whatever you're doing (and doing well) and I think you'll be happy with the results. If it were starved for nutrition or unable to support growth and blooming, but otherwise healthy, the buds would stop developing and/or drop before opening. The fact that it's not doing that tells me that it's a strong plant.
One of the wonderful things I like about phrags is that they bloom and grow pretty much simultaneously once they get some age on them, and because of that, it means many (but certainly not all) of them can bloom multiple times per year. This is especially true of hybrids.