"I could stick it out another 7 months to claim the bonus but hate to stay at a place where I feel like things are hopeless and I'm making no contributions"

I'm a non-programmer in SV so I'm potentially jealous/out of the loop, but I will say something no one else here is: Quit being a baby.

Unless you have another bonus offer, giving up on 35k because of your feelings is a childish move at best. You have 7 freaking months, which is a blip. In other industries it might take you 7 months just to get another job.

You might think 7 months is a long time if you are just out of school and still think in semesters. But you will have many more periods that feel this way, except without a bonus.

Unless you have a legitimately better offer, sack it up and get your bonus. It won't always be good times.

Edit: I will even go so far as to say that you are lucky the project is overdue and bloated, because that is the entire reason your bonus exists in the first place.