I presume you are friends. Continue playing.
If you think this technique will increase their ratings reliably, then you don't understand the rating system.
On chess.com it does. I've seen members on here that have around my same blitz rating from playing only below 1600 players. Mine is from fighting 1700-2000 range players. If I did the same as these types, I'd easily have a 2000+ rating.
Statistically, you would suffer very rare defeats that would hurt your rating very much. You win 40 games, getting 1 point from each, then you lose one that costs you 40.
And yet again, players are exploiting the rating system just as I said. You have to understand that the chess.com elo system doesn't have floors like in the USCF. A player can mop on lower-rateds on here and gain more than they lose. It happens all the time, and I see players all the time with ratings in the 1800-2000 range, yet their average opponent rating is only 1550. You can't get around that fact.
I like the latter part of your quote, the 1550 part. Ha, ha, ha!!!!!!!!
Regardless of how it may or may not affect your ratings--why would you want to consistently play much lower rated players? This will hurt your efforts to improve your game.
Suspose that somehow it is true that you can increase your rating by playing much lower rated players and you do just that and get a higher rating? So what? You have not improved your actual chess ability. And eventually players who play against better competition will surpass you.
^ Looks like we got outselves a culprit in the house!