I dont know about that! In theory it sounds good. I know a company that hired a very good hands on cto who then hired 5 50k entry level engineers that was largely the extent of their team for 1-2 years. Then they started to hire more senior people.
I'm sure the cto did a massive amount of training early on but this is a near billion dollar company in a fairly complicated industry. You dont HAVE to have 4 incredibly senior super engineers as your first hires. It might make coding easier early on, but its going to make hiring much much harder.
I don't think you need "super engineers" either. They just should have made it through their first mistakes on someone else's money. If your founding team is not technical, it's important that one of them has seen the problems that will come up in your first 5 years.
No matter what you do, you will make wrong decisions and need to fix things once you need to scale. That's the way of startups. However, you also need to prevent the high level footguns such as OWASP top 10 and exponential algorithms with minimal supervision.
The fifth engineer can be a junior. Once you've built a base you can start expanding and hiring on potential.