Because at first, even though deku was quirkless he was still standing up for oher kid and helping him and essentially doing things that heros do, and still dream of being a hero. Thats why i think his way of understanding things is different from others. So i feel that somewhere along the way he really thought hard about heros and having quirks, and can see it that it will be unlikely for Deku to be a hero, but still bakugo still acknowledges deku’s effort and dreams and doesnt disregard then despite being quirkless. And tbh he talks shit about everyone and lol tbh of yall really hinknof the progression of their relationship youcan see that he never truly made Midoriya stop calling Bakugo ‘Kacchan’ lol so they bro-buddies now! Just as Kirishima says! Lol
I think he's acknowledging it /because/ he looked down on Deku in the first place, who he now sees as an equal. He probably saw his past self reflected in those kids and wanted to pass on some words of wisdom.
It is weird when Bakugou said about "look down on sb". If he acknowledges it, why does he look down on Deku???