If a guy says he, “won’t be ready for something serious yet…”?

Does this actually mean never? Or just that he wants to take things slowly?

Background: He’s been very honest and up front with me about where he’s at. And for the most part very consistent. He was vulnerable and told me he got out of a really toxic and abusive relationship and needs to work on his mindset around relationships. He also said he’s got some walls and defenses that we’ve talked about. But he said he likes me and wants to keep talking and getting to know me. We aren’t exclusive right now, although I’m starting to want to be. Unfortunately, I don’t think he’s ready quite yet to be exclusive and I don’t want to push him. I just don’t want to spin my wheels waiting for things to move forward in some capacity. So is it a never? Or not yet?
If a guy says he, “won’t be ready for something serious yet…”?
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