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Would you consider taking up a job role that offers you less than what you earned at your last job?
It depends on what else I have in life. If the money were important to me I might consider the job an annoyance but worth the effort. This would be especially the case if there were something else I was really into. I might use the money from the job to support my passion. I would never take a job if I felt it would be a miserable experience. On the other hand, if I had no pressing need for the money and felt I could go for the satisfaction, I would pick the lower paying job because it would be more rewarding. Many people who work for non-profits have made this decision. Another factor is the stability of the job. Can I count on the income continuing? If I lose the job for some reason, how easy will it be to replace? That would affect my decision.
In my opinion, I would take a lower paying job and keep applying for better jobs until you find what you are looking for. If you truly want to get a job where you make what you are worth, you are going to have to dedicate yourself to your job search and build a resume that accurately reflects your value.