I mean the proportioning valve is bad. This just happened on my buddies Celica. Brakes worked fine, bled them, squishy pedal, bled them another 20-30 times (no kidding) still the same. New proportioning valve, bled once, boom. Good as new. There has to be something about them getting air or something, cause we pulled 6 junkyard ones and they didn't work. Had to get a new one ($180) but brakes work perfectly.