>But, the CEO is going to investors pitching the fact that we've built/are building some deep learning engine that can be applied to all problems.
Are you directly involved in the meetings the CEO is having with investors? Do you have first hand knowledge of how the investors are reacting to what the CEO is saying? Is what you are saying based on your experience in those meetings, or from other conversations with your CEO? Remember that your CEO may have conversations with you that don't, in any way, reflect the conversations they are having with investors.
The world of business and money is filled with hype, painting pictures, "vision for the future", etc. Startups, Big and Small Tech Companies, Non-Tech Companies, it's all the same if you're trying to get VC money or budgets. What's comfortable for CEOs,VCs, and marketing may not be comfortable for somebody in a technical role. The people investing the money or approving the budget need to do their due diligence properly.
Rather than asking about your CEO, ask yourself if your own sense of morality is being violated. I've been in a similar situations before, where the company I worked was using consulting hours to sell a terrible (in my view) Data Science product. The "Product" did more to satisfy the person signing the purchase order than anybody who actually had to use it. That being said, all the consultants were sincere and the customers were really happy with the work we did, even if they had to buy that terrible product to get more time from the consultants.
If you are enjoying the work and doing right by your customers, then let yourself enjoy it. If your CEO is saying you are doing cutting edge cancer research with your product and you are running the models for a active clinical trial, find another job!!