When is enough, enough?

So, I have been with my boyfriend for 3.5 years. We have a pretty good relationship - but things have increasingly become more difficult recently.

Lately, he's not himself. He's become close friends with a buddy from the fire department he is on, and wants to spend his every free second with him. This friend likes to party/drink. It's usually at his house, but he likes to have drinks every time we are together. He talks about our sex life with this friend, and does so in almost a degrading way, in front of me and his friends gf sometimes as well. He has made a few comments I've never heard him say before... which coincidentally have come up after his friend has either said it, or something similar.

To me, it's like he doesn't care what he does or what he says... as long as it impresses his buddy.

Two weeks ago, I was on his phone to look something up on Instagram (I wasn't sneaking, he knew I had it) and it opened to a conversation between these two. His friend had sent a picture of one of their mutual friend's girlfriend with some very heavy cleavage. And he said "Is her shirt too small, or are her boobs too big?"

I get "guy talk" but my boyfriend replied "f*ck... I want to see those" followed by a "buddy is a smart guy".

What are your thoughts? In my mind this is unacceptable. Especially because the girl they are talking about is someone who we hang out with.

I'm all sorts of uncomfortable with this, and when I brought it up, he said "Well, you were never supposed to see that. This was never supposed to be a fight, and you are being crazy about this... boys will be boys... this is locker room talk"

What do you think? What would you have done?

Edit: I am 23, and he is 25