If you don't have the track record or wealth to justify that then yea it is a massive red signal.
Imo, a CEO/CTO in the Bay Area should pay themselves market rate for their equivalent PM/Staff Eng position.
Some will take a very low salary ($70-90k) but they are also younger (early-mid 20s), but going up to $150-70k is doable depending on life circumstances (tbf, a founder with a family also probably has a decade+ of experience so I'd trust them more).