I went through a few multi FX's too. It's more down to their "feature packed, compact design" than sound, why have a few, select pedals when you can have 'em all in one box? It's economical sense.
It's just a shame that the cheap-mid range one's don't sound that good. IMO o' course. ;)
Had a ZOOM GFX707 and a BOSS ME-30, and it was when I got into recording that I realised they sounded awful. The POD v2.0 was a bit of a revelation, it actually sounded alright, and the PODxt sounds a whole lot better. Good for quiet practicing and recording. Only experience of these things can tell you that a simple guitar & amp setup sounds much better than any multiFX/modeller.
Admittedly, I thought the same when I bought my LP Studio years back. How can the pickups be that bad, they're Gibson pickups on a Gibson guitar, surely they MUST be pretty good. Again, experience and using your ears makes you wake up to the fact that the stock pickups are not that great, for me, it was buying another set of 490/498's and installing them in another LP type guitar that made me realise they were sh1te.
I think you need to convince your mate to get some recording done with his set up and yours and then both sit & listen to the outcome.