Pros
Fantastic teammates, good benefits and decent pay, the ESPP can be lucrative, potentially lots of "perks" like travel and fun events (although now not as much as in previous years), cool brand to work for.
Cons
Promotions and advancement can be tough to achieve and can be somewhat political, the reward for doing good work is often just getting more work, if you stay long enough without regular promotions your pay will start to lag the market, there are definitely "cool kids" and "others" and if you are an "other" career advancement can be difficult, layoffs used to be uncommon but are now a constant worry, with many corporate roles work/life balance can be difficult to achieve as there's an unspoken expectation that you're checking email and available pretty much 24/7, Nike's DE&I program emphasizes having the 'correct' physical attributes (skin color, gender, etc.) over actual merit and qualifications, with predictable consequences, and morale has definitely sunk in recent years compared to the past. Many people stay not because they necessarily like it but because they are comfortable & complacent; they know that finding similar pay and benefits somewhere else in the area would be difficult.