Need advice from the viewpoint of a man

So I’ve been dating someone pretty casually for a month. we have not had sex but spent a lot of time together. I said to continue I’m going to need a bit more intention from both sides. He said from his side he’s not at a point in his life to give someone 100% in a relationship so he’s looking for something casual, and he can’t get behind being with someone if he can’t put 100% into it. He said it genuinely isn’t about me it’s about not wanting anything serious at all right now. Am I just falling for crap or does this sound like a valid reason.