Sounds like one of these companies that just got some investor money, hired friends of friends, and are enjoying the ride. There are exactly zero reasons to try and save the sinking ship. If you succeed, they will just hire more buddies over your head. If they fail, you will be scapegoated.

I would say, be nice and polite, take your time learning whatever tech you need to get a better job, prepare for interviews, get an offer, shake hands and move on...