Pros
I guess the pros are that you can almost get away with murder here. And if you want promotions, just don't do your job, kiss the right tuckus, and be popular with management. Aptitudes, competence, leadership acumen need not apply.
Cons
All the repercussions of the pros. Abysmal change management, absolutely no useful communication from management or across levels, very low morale, and employees have little to no agency over their own careers or roles -- we are simply playthings in a shell game of mismanagement, and the victims of desperation to cut expenses as a result of the mismanagement. The writing is once again on the wall, being read by many: this ship is sinking, again. Most of us wouldn't be surprised by layoffs in the near future.