to sleep at friends couches after parties, it worked

That's, um, is not a test of a sleeping bag X-) Random coats, blankets, and drapes would work as well.

more a skin-friendly material than the Fruit of the Loom type knock-offs.

There is no particular magic in textiles. The basic choice is between cotton and a variety of synthetics, each of which has its own advantages.

Generally speaking, "camping" military equipment is better than pure trash (like your Tesco Value tent) because, well, pretty much everything is better than pure trash. But it's worse than actual, proper camping equipment. Probably cheaper, too, so you pick your price-quality trade-off, as always.