I can't imagine anything worse than being "friends" or in a "relationship" with someone who is with you based on some material expectations or arrangement.
There are 7.4 billion people on this planet, and according to statistics half of the ones in the US/Europe are single. Many of those are good people that don't care about income level, penis size, 6-packs, what car you drive, etc and are just looking for a decent guy to come home to every night.
If you have money to spend on a "sugar baby" (I actually gagged when I typed that), then why not spend it on constructive things that will increase your chances of finding a proper partner that cares about you and not just your wallet?
Anything that will boost your confidence level, make you stand out and be more interesting to the other sex, and get you socializing with people. It could be something as simple as taking a cooking class, or something exotic like parasailing in Phuket
Or you just want to pay someone for sex then I think you are better off with an escort than a "sugar baby", at least it seems like an honest transaction instead of supporting a manipulative parasite.