I'm happy to hear that you made a new friend!
I can make friends fairly easily, although I find it takes more effort from both parties to maintain a friendship. Like you, I enjoy meaningful conversations where people listen and reciprocate. Unfortunately, most of his friends are those that you mentioned who talk incessantly, interrupt each other, and then when others are talking, they look at their phones or change the topic immediately. I will sit patiently and listen to this for a maximum of a couple of hours. My husband does that too, he's eloquent and interesting, but he isn't always the best listener so I guess he tolerates people like this better than I can.
People who talk over others are probably just seeking attention. I do my best to love them but I also think it's healthy to build some boundaries by telling them that it's time to stop to leave when the conversation gets nowhere. Unfortunately, my husband enables his yappy friends.