If the difference between a min-cash and no cash is substantial for you, a fold is acceptable. But in most cases, and in most normal payout structures, you'd be leaving $$ on the table by folding. ICM-wise, if you are that close to the bubble and 1-2 players is willing to risk a bustout, you fold. No matter what your hand is, if you're putting your chips in pre-flop, you are risking elimination.