Or is gaining friendship with the world automatically "put you at God's displeasure"
You have to see love and hate from God's perspective first off.
God's loves and God hates. When God loves someone He gives them a preferential place in covenant with Him, and when He hates He does not give them a place inside His covenant promise.
Therefore, we can see love as preferential and covenantal, and hate as outside the promises or that which is at emnity with God.
When we look at our view of the world in this light, the preferential place, our love, is first for God, and then for God's people - those within the covenant promise.
Is hate some kind of emotion where we have negative feelings about those currently outside of God's covenant. No. Absolutely not, although we don't step over those who are in covenant with God get to them.
However, we aren't in a covenant with the world, our allegiances lie with God and His covenant people.
The only reason we can pledge allegiance to the flag with clear conscious is because we are pledging as a nation under God, because our covenant is first with God....
We can vote, we can listen to music, watch t.v. have friendly associations with the unsaved, but the preferential place of our allegiance is always with God first and foremost. If it is ever between God and the world we choose God.
But we still live IN the world, we just aren't of it, our covenant isn't with this world or the things in it... it's with God first, His people (our brethren) second...