A CEO cannot speak their true mind or their true assessment of a situation. They can't say "wow we're in trouble here" because then people will jump ship and then the company will be even more in trouble (and the CEO would get sued for breaching Fiduciary Duty)
What a CEO says is merely wishful thinking for a goal they want people to follow. They can never speak their true plan. (And of course, it's all just game theory, a more elaborate version of https://youtu.be/S0qjK3TWZE8)