Getting an Intern offer

So I am at the end of 6th sem at B.E. in AIML and i recently got hrough an interview, its a startup, the founders asked me to join in and they said they will pay me 2.5k and later maybe a split of their profits when they start earning The red flag part is, they said "Consider this not as an internship but as your own startup and we may work for years, theres no bondage on your work hours, you gotta complete the tasks of the project and at the end of the last sem, we would give you the code for you to show it as your major project"

I dont know what to do right now, as 6th sem is ending and I still dont have any experience or internship yet, I havent done DSA so I am confused if I should take the internship or do dsa the next months as vacations start, coz the placement season would I believe arrive at august and I need to be prepared for that too as it would be mostly offcampus for me but in that pursuit I wont have any internship on my resume