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I agree that the idea behind the words "cowardly and infantile" is not fair. The question isn't about you and him (the "golden son", or even his parents). Its a question of you and their old-fashioned cultural values.
Seek advice from his cousins (or anyone with the knowledge) to gain a better understanding of how his parents' cultural ideals are affecting your situation. Then it should be you that makes the decision to create change in the dynamic of your relationship, with or without an ultimatum.
Good luck, it's not going to be easy.
In response to the anonymous comment stating:
"Well, if we are 'too slutty' for them, then they are spineless, unchivalrous jerks not worthy of us."
Garbage.