That's exactly what it means.
Quote:
Quick definitions (bum)
▸ noun: a disreputable vagrant ("He tried to help the really down-and-out bums")
▸ noun: person who does no work ("A lazy bum")
▸ noun: the fleshy part of the human body that you sit on
▸ noun: a person who is deemed to be despicable or contemptible ("Throw the bum out")
▸ verb: be lazy or idle ("Her son is just bumming around all day")
▸ verb: ask for and get free; be a parasite
▸ adjective: of very poor quality
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The descent of man ~ Nixon, Friedman, Reagan, Trump.
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