Earlier quoted context omitted.
Maybe it sounds extreme, but I agree with @edw519: you don't want to work at a place that lets a project fail as badly as the OP described it. I've been in situations like that too often and I've learned that particular lesson too well. Like @angdis said elsewhere in this discussion, projects "fail" all the time, but the OP is talking about a specific kind of failure. Notice how many commenters mention "finger-pointi…
I think that level of "failure" isn't exceptional in the field. It's very frequent that "Team A" works on a software product and gets some of it done. Then the work gets sent to "Team B". "Team B" usually finds many deficiencies at work in the code. For instance, people frequently bungle the design of 10-table databases, so perhaps there are dragons in the 100s of tables. "Team B" sometimes delivers the product, usua…
First: why is that? Are there good reasons for this, and does this happen for those reasons?
Now, knowing nothing about the company, if I learn that every other project suffer a change of team before going into maintenance (officially and actually), then it's substantial evidence that something is wrong with management.
Whether one should quit of course depends on how wrong.