Not to mention Elon publicly demonstrated losing 80% of staff when he took over twitter and - you can complain about his management all you want - as someone who's been using it the whole way through, from a technical POV their downtimes and software quality has not been any worse and they're shipping features faster. A lot of software companies are overstaffed, especially Google who has spent years paying people to make projects just to get a PO promoted, then letting the projects rot and die to be replaced by something else. That's a lot of useless work being done.
You have to establish that the CEO is actually aware of the reality and is interested in accurately conveying that to you. As far as I can tell there is absolutely no reason to believe any part of this.