Really depends on how the fight went out. Sure, it's easy to say you just don't invest time to play a game of chess if you're not in it to win it ... but the situations can vary.
I'd say draws are fairly awesome if you were fighting an uphill battle with your back against the wall and could prove to him that even though he had winning advantage, he couldn't back it up with his technique. Sometimes in OTB, time pressure situations can also justify a draw offer or by repetition. Also, in tournaments one strategic reason for a draw may be money (placing to win a prize by scoring your 0.5 point) or just to conserve energy for the next game.
Are those reasons ethical or dignified? Well, that's up in the air. :)
In general, I'd think seizing a forced draw to "prevent" a loss makes 100% sense ... but offering a draw in an unclear/boring-looking position without the exceptions listed above shows a lack of fighting spirit, especially at the club levels where a <2000 player can still make glaring tactical mistakes to screw things up.
Even more extreme would be offering draws repeatedly move after move, showing a complete lack of class.
Are draws something terrible, something to be ashamed of? I encountered players that preferred to lose a game instead of making the 3rd repeated move, others that started isulting me for trying to draw a game I was losing. So I wonder: is drawing a game really that bad?