He doesn't much sound a like a good friend to me, as trust, admiration, care and support work both ways in a true friendship.
If you want to remain associated (I won't call it friends) with this selfish individual, then just keep putting up with it the way it is. If you want to teach him a lesson, then break it off and see which way he turns. Ditto, if you are just fed up with his selfish and immature personality.
The risk is you may lose this association or he may forget about you as he has said. But in reality if he does forget you, at least you can move on and find some genuine friends. If he decides that he misses you and wants you as a friend then it needs to be on equal terms. Presume you just want him as a friend?
Like you said, its not that he doesn't derserve you, but that you don't derserve to be treated like this. Get out and make some propoer friends that you can rely on.