Sounds like a case of responsibility without authority. You signed on for the job of "running the development team" but they've demonstrated they're not going to give you any authority to actually do that.

And your CEO has no respect for you if he can't find more than 5 minutes (total or at a time) to bring you on board.

I'd leave ASAP, this is going to be nothing but pain, and very high stress; almost certainly not worth the money.