Philosophy

A friend to all is a friend to no one...
Do you think this holds true???

Definitely

yes
support the Anarchist movement!

in a way yes it is.
No one can trully be a friend to everyone
meaning even if you are friendly its false
so you really can't be trusted, you really aren't so truthful
I'ld have to say I'ld agree

Yeah I suppose.

It does depend. Someone could be caring and gentle to all. That would make them 'friendly' and even a friend to everyone at some level. I have met some people who are that caring and kind.

However, if by 'friend' you mean someone who knows you truly, someone who will share time with you in a way they wouldn't with other people, then obviously you are talking about an exclusive relationship, and that kind of friendship is imposible with 'all'.

Then there's the case of someone desperate to be loved by 'all', who will say or do anything just to get immediate approval from whoever is nearby. That isn't a true friend at all, and it may be the meaning of the saying.