Yeah. I see way too many fake polyamorists like this. In reality, they're just narcissists and/or philanderers. In Hyde's case, it's mostly a fear of getting hurt. By putting so many people between himself and Lucy, he's creating a barrier.
It's very rare that the first love is the one. I know someone personally who's first love was the one, but I stand by that kind of situation being rare.
Besides, the polyamorous relationship isn't about love a bunch of people too? Hyde is just trying to justify his lust, not a polyamorous behavior.