The problem to me is that the technical parts of a tech startup are usually more than 50% of the company. Maybe it is even 90%. You write the blog post and pose as if you had something. What did you have really? If getting this guy was critical to success and the reason you moved, I think you should focus more on how in the heck you got into the position to consider moving in the first place, i.e. a combination of bad advice from investors that weren't good advisors and you taking that advice. The critical mistake happened when you decided to move out there, not because of the red flags you mentioned. Those were secondary imo.
Actually finding investors and advisors and getting them on board with the project is a big deal. And apparently finding a good CTO takes a lot of time and effort as well.
Major lesson learned -- getting investors and advisors doesn't get you a good CTO
One word: vaporware.
All valid comments -- I think that ultimately team is the most important, followed by product, which is why I moved, and we were basically doing a reset. We had stuff without him, but I wanted to build the company around him/me rather than the team we had...but agreed in part, for sure