Bad analogy. It's more like you thought you were hired to paint his house, but the way things ended up he was telling you how to match colors and hold a brush. All the while pointing to the 10 year-old kids sloppily painting a fence across the street saying "See? You're still in the basement mixing paint, and they're almost done already!"
You have no cause to complain here in this analogy. Either quit or happily let him tell you how to match colors and hold a brush, and if he tells you to paint like the sloppy kids across the street, that's now your job.
You're not painting for the City while having a superior, or for "shareholders" or to "build a good house" or "build a good company" (that this is a metaphor for) - you're painting for him. If you don't want to do it like he says, you would leave (or quote more money for putting up with his childishness.)
Basically, yeah, that's usually how I end up handling these situations when quitting seems less than convenient.