Air Carrier First Officer reported there was a slight perceived bleed through using the PAPI of white on the red light and red on the white lights; meaning the colors washed together.

Narrative

Night visual to Runway 6 in ILM. I am aware [the PAPI and glide slope for ILS Z RWY 6 are not coincident.] However; while on the glide slope for ILS Z RWY 6; the PAPI displayed high (3 white; 1 red) for the entirety of the approach. Additionally; there was a slight perceived bleed through of white on the red light and red on the white lights; meaning the colors washed together. This remained until the aircraft crossed over the threshold.The PAPI seems to be less than a 3 degree angle and would cause pilots who relied solely on the vertical information displayed by it; to be too low while conducting an approach to RWY 6. The ILS glide slope appears to be the most reliable source of vertical information.The PAPI needs to either be fixed or turned off. A pilot will naturally adjust their vertical path to that of their visual references; which in the last 500 ft. will be the PAPI (at night). This will cause aircraft to descend below the glide slope before reaching the Runway Threshold. The Company has done well in mitigating the issue with a [special] page as well as opening this issue [with our safety division]; but the FAA needs to be willing to step in and solve the issue; otherwise this is an incident waiting to happen.