Pros
Broad exposure and responsibilities pushed to middle to low level employees. A good place to build a robust experience and tough hide, and favors the employee that can spot and stay ahead of trends, and invests in their own development.
Cons
Success is rewarded and recognised, however career development is mostly in the hands of the employee and their ability to gain visibility and have the right network of supporters. Support functions, especially HR are resourced at bare bones and disjointed which can result in some perils to the person who makes an internal move without a lot of due dilligence. Leadership is not well unified, and strategic initatives tend to have trouble gaining traction due to internal conflict and high exec turnover.