Yes, that seems very likely. A good assessment.
He is probably not very physically mobile and not in great overall health either. His constant focus on low-cost meals and cheap essentials in Thailand suggests he does not have much financial flexibility either. He likely saves as much as possible from his monthly government checks, makes his way to a budget-friendly, non-touristy province in Thailand once a year with the little that he is able to save, then stays put, and spends most of his time obsessively trolling forums both while in Thailand and when back in Australia to try and release his frustrations.