The conventional roller chain and cogs has greater mechanical efficiency than the CVT. Even if one demands a fairly tight ratiometric progression (I prefer 6 or 7%), a conventional modern derailleur system (2x9 or 2x10 for racing and light touring; 3x9 for mountains or loaded touring) provides more than adequate range.

I am even less enthused about any sort of automatic transmission for a bicycle, because I know what gear ratio I need at any given time, and I don't want any nasty surprises while riding. (All of my cars do have automatics, but that's an entirely different application.)