Given their existing investment in Postgresql, I can't imagine they suddenly had more experience internally with MySQL, though the CTO may have been the only person with any horizontal DB scaling experience since Etsy didn't scale before.
I've seen the pattern of "CTO changes tech to something he/she is familiar with" many times. Sometimes that's good; mostly, it annoys the teams who are now less efficient. We certainly don't have enough info here to know. The scaling argument (his knowledge thereof, not Postgresql's "inability") is pretty compelling.