Pros
They are very customer centered, and actually bring customers onto the campus for you to meet and talk with. Great way to see and feel the direct impact your work has on other people's lives - how they make a living or a successful business off of using eBay.
Cons
These traits are not unusual in my experience at other companies. It was just extreme at eBay. That said... Constant org changes at all levels, where you can be sure in two months half the people you are working with will be gone or moved to another group, and key management players also. Excessive meeting culture means you are literally in physical or virtual conference calls 6-8 hours/day, which means that (if you're not management where attending meetings IS your job) you will have to do your results producing work after hours, on weekends, holidays, and...sadly, during meetings -- where you should be paying attention to what is happening in the meetings. As you can imagine, that also has consequences for the effectiveness of meetings.