Yes you should take it, if you got no other options.

Then you immediately update your CV with your new job title and jump ship for more pay. If the orginal company offers to match the pay you say “you had the chance to pay me more. If you valued me that much, you could have paid me that much from the start”

I’d only accept a “dry promotion” to improve my resume. Then I’d quit.

If it’s a promotion to less work, maybe.

Maybe.