Pros
They are trying to look at what other good companies do to try to retain employees. Like any reason to have beer in the office, or getting an office and making it look like a nice studio. But they really don’t understand the reality of their problems, it’s just sugarcoating the real issues. The current environment is corporate because that was the mentality of the CEO (Look expensive, force everyone to use ties and to shave), now the target is be an easy going company like any decent IT company, and to make people stay because of the perks instead of a decent contract. They really think fun in a work environment comes down to just do random weird things like going to go-karts after hours. They just don't get what makes a place fun is the work itself and everything else is an addon.
Cons
The excuse to why they don’t have a CTO is because the CEO is such a control freak that he will not allow anyone to deal with the team interactions. He understands anyone will treat the team as group of humans and people with feelings and beliefs. He will not be able to manage the expectations of always looking good and will blame failures on anyone but him. He will not question you, he will literally try to make his idea (Even if it’s the worst ever) to be taken as a good one. He really has a need for recognition beyond anything I’ve ever seen before. Looks like he is trying to delegate again (yes, again) after some key players have left or been made to quit.