I think plenly of men, sexually active or sexless, have given up on dating or relationships.

The issue is that many men who give up simply cannot get sex with enough frequency or consistency. Men cannot control this desire regardless if they give up on dating or not.

If there was a drug to reduce libido for men, would you take it? Supposing it does not affect anything else.

I think it would make men more free to decide what they want and actually stick to their decisions without desires interfering in them, women would also be happier that undesirable men are not around them. Only downside I think is that probably some markets based on male libido may drop, but socially we would be OK.