Pros
It truly is a great product and there is hope for an IPO. Too bad the equity packages are horrible and the IPO will make you $1 richer. There are some great people that work there, but they are far and few between.
Cons
Joining Wiz will ruin your career. Not only will you wake up every day wondering "will this be the day that I get fired?", but the day that it does happen will likely be right before your equity vests and leave you with a short stint on your resume. There is no loyalty to anyone in this company. They are quick to let go of anyone without any reason or warning, even top performers. There is no transparency. One day they will say "there is room for everyone here" and the next they are doing a quiet layoff. It is beyond toxic. Do not join if you have a choice. The only thing they are concerned about is how much money you are making them.