Joking aside. It's tough to draw a conclusion from that single statement. I've 'sat in the in the office of the CTO' as a 1st line engineer, and he spent 90% of his mingling with other engineers performing engineer duties (such as technical support or hands on switch installs) and 'sat in the office of the CTO' as a Product Manager where I conducted more 'organisational' duties alongside him.
In larger companies, CTOs have become like VPs at a bank - lots of them with little if any strategic influence. The "office" can be so large that a member may never see or even talk to the CTO proper.
I once looked into one of those jobs but decided I'd rather be honest and work in sales or marketing.
Too intelligent or useful to let go, but too independent to toss into the regular worker pool. I would say that they are mid-level management ranking, maybe less depending on the business.