Pros
Red Hat's open culture has a lot going for it in that many ideas do flow freely around the organization.
Cons
However, "open ideas" are often vague and not targeted where they can do the most good. They often felt like they were just tossed to the wind, where a few interested advocates would tear them apart. Then they would die and be reborn several months later. Very little closure. I actually found teams to be more closed than other organizations I have worked with. My feeling is that emphasis on openness and meritocracy chokes out ideas that are specific and well-founded, but not quite baked. Less assertive team members are effectively silenced by others clamoring for attention. Daily incentives are heavily biased toward individuals and there is very little alignment or teamwork.