It means, that most people consider the subject as being “too good” for him to reach out for, or even attempt. But nothing else about the subject. And it does not say the reason the subject is an ideal beyond his reach has to do with beauty, brains, wit, success or morals.
And it does not say if he considers the subject as someone to be friends with but never attempt to get in a serious relationship, or if he ignores the subject’s presence, or if he mopes around feeling “less-than” but always hopeful.