Exactly, he's pointing out that the revaluation of all religious values does not lead to atheism, but to individually chosen principles that must also be based

Exactly, he's pointing out that the revaluation of all religious values does not lead to atheism, but to individually chosen principles that must also be based on a faith due to the uncertainty that such beliefs are meant to deal with. Even athiesm itself can be viewed as a fundamentalist religious belief that is based on faith.