I don't mind bad friends, but that's because the act of socializing fills different needs for me. I don't really have any desire (or apparent capability) to form real relationships with people. Socializing is simply an opportunity to gain new insight or knowledge, so I choose my friends and acquaintances based on, I suppose, how "interesting" they are, either through their character or practical knowledge. I've known some terrible people, but I enjoyed their company because they provided me with opportunities to learn something new. The worst people can actually be the most instructive in some ways.
That said, I wouldn't advise you to stick with a friendship that places you in a position to be manipulated or mistreated. What you desire in seeking out friendship is a source of human bonding, I suppose, and that's obviously not being fulfilled in this situation. It's a deeply ingrained human need, so it's understandable that you're willing to compromise in order to fill it. I'd even say that it's a perfectly reasonable approach to friendship - compromise is almost always necessary in some form. But in this case, it's not really a compromise at all. In a compromise, both parties gain something from the interaction, but you're not actually getting anything out of this relationship. There's no tie between you and this guy, and bodies alone don't count towards friendship. Better to cultivate fewer real ties than to waste time and energy keeping up false friendships - your real friendships will only be weakened as a result.
_________________
I have not the kind affections of a pigeon. - Ralph Waldo Emerson