And there isn't yet enough information in your post to be able to answer your question.To give you background: there is more to evaluating whether a waterfall is fair or not than just the equity split. 

I bolted into the front door to see a waterfall coming down the stairs.

Good calm being cautious about this (and similar issues) but I think this one should be the least of your worries.  

Many MF Syndication deal is also not in favour of Investor (eg: skin of the game/waterfall/fees etc).

Stay calm and work my plan.

I can assure you that your best route forward is to calmly, but urgently plan for each step you need to take.  

If you’d like to connect (maybe virtually until the situation with COVID-19 calms down), let me know.

I am calm under pressure with superior time management and conflict resolution skills.

This is likely a risk mitigation technique to pad their reserve fund.If GC has a preferred return, waterfall structure in place, he only gets paid AFTER the investors get paid.

Unfortunately some people will never recover from it, but those that remain as cool, calm and collected (as possible) will make it through to the "remember the coronavirus" stage of life and will be better off for it.