In general you should only take it if the title and responsibilities are going to look a lot better than what's on your resume.
But regardless you now should be looking for a new job. If you take it then the only reason is to pad a resume to get into something better and more lucrative. If you turn it down then you are probably at a dead end in your career at that company and might be let go.
Dwight owns a massive amount of property with a working beet farm and B&B on it. He's second only to Phyllis in wealth, who married into vast 'refrigerator' money. If anyone was going to take a promotion simply for the ego boost, it was him