Narcissists hope for love and caring, but feel very uncomfortable if they seem to find it. Being in love makes them feel vulnerable and this terrifies them. They doubt the authenticity of real love and devalue anyone who loves them because they believe that person, like themselves, can never live up to their expectations of perfection.
Narcissists cannot grasp the concept of unconditional love that includes the acceptance of flaws. Love does not sustain them. Instead it feels unsafe. Admiration feels safer because it can be earned through achievements and credentials. Since these are things the narcissist can control, they feel much safer being admired, rather than loved.