Pros
Some really good people, generally. There's far more camaraderie than enthusiasm for the product or the company's direction. It's less "we believe in the mission" and more "we're all just getting through this together."
Cons
Middle and senior management have virtually no control over the constantly shifting "priority of the day" handed down by leadership. Teams are expected to abandon work and pivot without question, often because of reactive decisions that lack clear strategic direction.
The culture is driven by fear. Everyone knows the axe is always hanging overhead, and people can be let go without warning or explanation. One day they're there; the next they're gone. That uncertainty has become an accepted part of working here.