For the longest time I have always treated bodyweight exercises as more for conditioning rather than strength. But after doing some reading and based on my own experience I have come to realize that I have approached bodyweight training the wrong way.
Rather than doing high rep pushups, squats, leg raises... Etc. I should concentrate on their progressions (e.g. Normal pushups to close grip pushups to incline pushups and so on). Just like high rep weight training, which defeats its purpose as your body simply adapts to the stress, the same thing happens with bodyweight training.
The body adapts and you don't gain anything out of it except for maybe improved endurance and possibly ligament wear and tear.
So treat it just like any other strength training. Stick to the tried and tested 8 - 10 rep range. Once that becomes easy do more advanced versions of it. It's more economical that way.