Don’t discount the value it could have with the people still there. You might call it pointless, but for the remaining people at the company, it could signal that the CEO is also will to make personal sacrifices for the company.

From a pure numbers perspective, I agree, it would be a pointless gesture. But symbolically, it could help with the morale of the people who are staying.

I’m not sure it would help, but it shouldn’t be discounted so quickly.