Pros
Generous benefits, understanding of work/life balance, pleasant people to work with. Lots of internal opportunities for people who push and find them. Better shot at getting a title and good experience above your normal level than at somewhere healthy. Management has strongly resisted layoffs. If you're good at enforcing boundaries and don't mind chaos, this can be a solid paycheck and safe harbor for another couple years.
Cons
The company is dying, full stop. Management is confused and feckless, and missed its window of opportunity to turn the ship around. The 2021 bankruptcy was the beginning of the end, and the company is now focused on squeezing the last drops out of existing customers and aged product suite, largely because the engineering organization proved incapable of modernizing. The politics are ridiculous, lots of roles are empty, tons of institutional knowledge is simply gone. Many people are burning out and leaving with nothing lined up. Bottom line: This is NOT a company for people who care about having control over their fates, who need to feel like they're on a winning team, or who need to point to big successes to further their careers. Riverbed can probably coast for quite a while, but the next big shock will sink the ship.