Peer support is really undervalued in the modern world. Empathy and advice from people similar to oneself can be just as, if not more, healing as professional support, for certain situations.
It may be undervalued. What's important is that it's not as good as professional support, even if it's better than people think.
A good therapist is better at empathy and asking the right questions than a peer. Peers may have more domain knowledge and familiarity with the situation, but this is only important for juniors. A CTO can make their own good choices once they identify the problem.
