Pros
Netgear has taken significant steps to change the direction of software development at the company. The organization is growing and building at a rapid pace. The new goals for the company offer a rare opportunity for real creativity and invention within an established company.
Cons
The 'exciting changes' are still in progress and there is a lot of work left to get there. If you're looking for well-established code and processes, you'll be disappointed; Netgear is not there yet. On the other hand, if you're the kind of person who likes to fix things and create new and better processes (both in code, and in the organization), you'll find eager and supportive management, but you'll also be a part of putting together the solution. Depending on who you are, this could be either a 'pro' or a 'con'.