Well, it is a bet. You can define a time window where you accept the current working terms expecting enough profits/an exit/whatever that give the team better salaries and incentives. You can estimate if this outcome is possible, it is just a dream, or a lottery prize. It would be good to communicate partially or completely your position since it will be irrational to continue in this situation for the long term.
We've had multiple seed rounds (about $5MM total) but haven't had one in over four years.
Edit: break even with all the software engineers being underpaid by at least 15% and myself being underpaid by 50%.