Pros
You will learn first hand how a bad company is run and come to know what the warning signs are so you don't make the same mistake in the future. You will observe first hand the primitive hierarchy of favoritism.
Cons
It's a complete disgrace how employees are treated. Upon first sight it seems like a good company to work for but after you have been around for awhile you experience the rot. There is an abnormally high turnover rate of employees and when those employees are gone expect the work to roll down hill and find its way to you. The company severely under compensates its employees to begin with then piles on the work. Oh and don't expect to get a raise either, seeing as there is no review process in place and the topic of compensation is taboo even though its everyone's main gripe. Most of the people in management roles are authoritarian, secretive, could careless about you, and will use you for their own gain. Internal systems and work flow is completely disorganized and nobody I mean nobody has a grasp on how it all works together. Not a surprising result when new managers come in and try to rework everything the previous one did.