I honestly have no idea whether 1% is good or bad, but which depends on a lot of factors:

What's the chance that this company is going to make it? 1% of nothing is nothing. If they make it, how big are they going to be? 1% of $1 million isn't all that much either. But if they get bigger than that, it very quickly becomes very worthwhile.

How much salary do you get? Equity can make up for low salary, but if your salary is okay, any equity is bonus.