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Your commitment to them ended once theirs did to you
Start looking. If they'll lie to you, they'll lie to clients and leave the working teams dangling in the wind.
leave immediately, these are clear warning signs of larger problems in the future
Do you think you can get great work out of it?
Yeah I have to agree, better to leave right away. The reason I was asking about whether you can get great work out of it is because I’ve worked in hell situations to get great experience...depending on the clients and where you are in your career it might be worth it. But it likely isn’t. You don’t want to stay more than 3 months, staying for 2 or so while you look for another job is ok. Almost everyone has been screwed one way or another and will understand.