Mocking slang, meant to undermine a deep and close emotional bond between two dudes who are involved in a bromance and to imply that there is something-something physical involved as well.
I can see that Jack and Bill are just as tight as anything, hanging out together all the time, telling each other "I love you" and nudging each other just so, like it's for kicks or something. But don't you think, sooner or later, those two will slide into that "bromance with benefits" territory and want to touch each other's private parts? It's only a matter of time. And that time's ticking.
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