What does Hally's statement beginning with "Of what? The truth?" reveal as the source of his early cynicism about life?

Hally is disappointed with the world. We see his disillusionment with his own parents as well as school and homework and life in general,

SAM: Be careful, Hally. HALLY: Of what? The truth? I seem to be the only one around here who is prepared to face it. We've had the pretty dream; it's time now to wake up and have a good long look at the way things really are. Nobody knows the steps, there's no music, the cripples are also out there tripping up everybody and trying to get into the act, and it's all called the All-Comers-How-to-Make-a-Fuckup-of-Life-Championships....