Pros
Watching the launches. You get to be a part of the most innovative company in the world. Interact with some of the smartest people you've ever met. Learning their processes can help you achieve a good paying job once your tenure is over.
Cons
Management doesn't care about your personal lives. They expect you to put aside everything and keep your eyes on "the mission". If they're a part of management, then they're probably huge Elon fan boys/girls. Their continuous process improvements only means they're putting everything under a microscope and micro managing you to its fullest extent. Things constant change at this company. Even if you think you have it made, don't get comfortable. Don't expect to be in one spot for a while because they may switch you from 1st to 2nd shift in a matter of months, sometimes weeks. And vice versa. Or they might require you to do something you weren't even prepared for, like travel or perform duties you weren't hired for (except that's what you signed up for, they'll make that very clear). Pay could be better, not nearly enough for what you do on a day to day basis.