Yes. The Prince is truly in love with Lynette. Explanation: Meliarose is a childhood friend of the Prince, and she is wary of him because she can not tell what the Prince is thinking at all, so whenever there is a date between The Prince and Meliarose, she sends Lynette as her proxy, just like this chapter. Gradually they fall in love with each other and the Prince makes a clear confession to Lynette at the school dance's party
And here is the endgame couples:
Meliarose x Glasses Guy
Julia x the Stalking Horse
Lynette x the Prince