This is what Viagra was made for, is it not?
If you like him in other ways, physical sexual dysfunction isn't a good reason to bin him off, IF he is willing to work on it. So my questions would be:
A) will he consider Viagra, or some other form of help (no shame in it, and it doesn't mean they can't enjoy the intimacy too - it just helps them get hard and stay hard).
B) is he a generous lover in other ways. Does he go down on you, use his hands, whatever else you enjoy....
If sex is all about his cock and his erection, and if he won't do things to at least try to sort it out, then THAT IS a reason to bin him off. But his body not responding in the way he wants it to? Not necessarily his fault.
Since I started the menopause, I have had some occasions when, even tho in my mind I have been really aroused, my body has responded at all. Luckily my partner has responded with sensitivity and kindness and not taken it as a personal rejection (which it isn't). I've had to get my head around the idea of using lubricant, on the odd occasions that happens. In an ideal world I wouldn't have to - but we just try not to make it a big deal! It's not the worst thing ever.....