CPTO Role- Is it killing Indian Product Companies ?

Is CPTO role killing the innovation in Indian companies . Mostly what I have seen is that CPTO is from a tech background and their decisions are mostly biased towards tech and it ends up spoiling customer experience. For eg - Look at companies like Flipkart and Myntra , falling behind Amazon and other competitors by a large extent now in customer experience.

Some of the good PMs that I know have even started rejecting the roles based on whether department is headed by a CPTO.

Isn't is better to have CPO and CTO as two separate roles to maintain balance at all levels.

Thoughts ?