My first response is ruuuuuuuun!

But you can give it a couple of months and see if they will do anything. If they don't, then definitely leave if you can afford to. Often our meetings would go like yours. Then at the end, when they had to leave they would tell me that they would "do some research", "come up with a plan" or "look into it". That was code for, "we have other things to do and we need to get rid of you".