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Post PA outcomes here!
What is the real deal across MBB, Tier 2, Big4?

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Be honest in what capacity? I’d probably leave it alone when it comes to talking to future job opportunities. When it comes to personal discussions, I think it is fair to be honest about. I guess the point is don’t let it come back to haunt you even though you are 100% right to be hurt and angry, that is an awful situation!!
You're out, that means it's time
It’s never in your interests to be so I’m afraid. I know that’s not what you want to hear. Corporations are generally low integrity in these times. Focus on what’s best for you.
I hear you. You are justified to be upset. But as the previous posters said, you don’t want to bring that to job interviews or your next job. Better to vent to a couple very close friends.