The "kid" lied and got his friend into trouble (his friend being implied to have been severely abused), then invented a "what if I was suddenly blind and you all felt sorry for me" sort of backstory to absolve himself of any blame. That's narcissistic behavior, even more than a kid would have. He wanted to have a BB gun for Christmas to shoot helpless animals with it - the first step to being a serial killer.
As for the bully? You mean the short kid, not the taller mentally-impaired kid? Nah, Ralphie went overboard, and he didn't even attack the actual bully, the short kid.
Now granted, a lot of shit is learned; like Faulk said, Ralphie's father was an even bigger piece of shit than Ralphie, so that's probably where he's getting it from. But that doesn't absolve Ralphie. Ralphie was an awful person, and he only loses the "biggest psychopath in a Christmas movie" award to Kevin from Home Alone.