Not to oversimplify, but a CTO is not a software engineer or a developer - despite those titles possibly being part of his or her resume in the past. A CTO is a manager. They build teams who build the software.

You were looking for a full stack engineer to make your business vision a software reality.

The first mistake is not knowing the roles. I'm sure, based on the description that there were likely deficiencies in planning and goals and requirements as well. It was an all-hands failure, not just the "CTO".

If it helps though, a huge number of startups fall into the same traps. Most flame out spectacularly under the weight of their incompetence. Some do move through it and find a way to survive. In the end, it's a learning experience for everyone involved.