Am I a good parent, because I let my daughter do what she wants?

I've always thought of myself as a good parent, till me and my sister fought recently. I have a sixteen year old daughter, and my sister thinks I'm raising her wrong. She is not snotty or anything, just a little bit wild. We have always had a lot of money, and well she is a bit spoiled. My sister thinks she is a bit slutty. Truth is, I kind of raised her that way. She does wear a bit too much makeup, but my sister doesn't let her sixteen year old wear any. Her shirts are VERY tight, but she has a good figure, well she is underweight, but you can't tell, and she doesn't have an eating disorder. Her skirts are short, but to be honest these things don't bother me. She really is a Beautiful girl (VS model), and the most popular girl in her grade. I was the same way. I kind of raised her this way and I kind of like that she is daring and popular. Does this make me a bad parent?