ESOPs Worthless or Gold?

Worthless. But that's not what you should be thinking. Early stage gives huge opportunity to learn a lot, rise fast up the ladder if you have the balls to take responsibility. Make sure the founder has a value system that aligns with you. Also make sure you're not in the mood to chill else you're the asshole I'd fire first.

You can make big stock options and big pay even if this start up fails because your experience and growth would eventually command that compensation the next place you applty.