Even if it's a small team and everyone gets an equal split (unlikely), that's still a ton of cash. I'd take it, move somewhere cheap and just work on personal projects for the rest of my life and not worry about trying to please shareholders.
Bad assumption. Just because it's a team of people doesn't necessarily mean there is more than one shareholder. You can have one founder, and a few founding employees. Not everyone shares equity in a startup (at least outside of SV), and this is fine.
Plus, a nice big chunk of it is going to Uncle Sam too. Let's say a 5 person team and they each end up with $2M in their checking account. Invested safely the returns match a typical Sr. working stiff salary. Sure you don't have to work, but you're not driving a Ferrari to your jet that's for sure.
I'm assuming based on the way OP posted he or she owns 100%. If it's split two ways, I'd still take it. 5 or 6 ways? Then that changes the conversation.