Pros
Can catapult yourself to another company if you get the right job title. Avoiding any and all technical ownership is the name of the game.
Cons
Middle-managification of the organisation has led to a lot of coxswains and very few rowers, the intertia drop that entails has stalled the company, 4 years and no CPU product, 8 years and still the same old GPU, but it will do next release! Virtually no leaders left with technical background even in lower layers. An example is visualisation and tracking all engineering development, standard practice at a normal company (recent innovation in IMG). You can see a bug immediately from automated regressionss but 3-4 people still feel the need to notify you of it in email/chat/standups and require status updates ideally before they each have their 3-4 separate status meetings to waffle about project progress. Jobsworths? But wait, the bug appears on several branches which needs remedied due to our archaic use of SCM. Now your jira tasks don't make the right number like they did last week, please review them and update them. Now your burndown doesn't make the shape we desire, ensure that you only log to development work. Now the bug appeared on the parallel project that forked the monolithic codebase 3 months ago and it breaks when their verification engineer (that didn't read the spec) drives wingdings in all the interfaces, please support them. Please create a task and predict to the hour how long this will all take, and we will review again if the Jira number isn't satisfactory. But wait, you will need separate bug codes to integrate the fix to each project. But wait, a random manager on each project already created the bug in JIRA, so delete the duplicates and try and convince QA in 6 months this was in fact duplicates. But wait, we are dropping a feature to bring in the dates due to slippage, so please take a look at JIRA again and estimate how long it will take to remove that code..... Oh, and there is no bonus this year, better luck next year! You get the idea.