As an example of somebody who handled working at dubious place well, consider this blog: http://liesandstartuppr.blogspot.com/
But onto Theranos - I just posted something on this at my blog. More than the employees, look at the Board of Directors and ask why they didn't do their jobs and enforce change. If they can't alter the ridiculous plans of the Founder/CEO due to the voting structure then they should resign. It's not their full time job, they won't go hungry if they leave, so what is their excuse for not speaking out?
For me it's similar to having worked for a failed startup. I have no problem with it, but I'm definitely going to ask. The difference between a bad failure and a good one is how much you learn.