Pros
The company has no place to go but up on most things like culture, systems, resources, processes, etc. There are always companies out there that are worse.
Cons
The company is having a hard time figuring out what to do and the leaders are out of touch with the employees which is sad to see. Higher levels seem to be continuously filled with non 'people-persons' who don't value inspiration. There have been so many changes in a short period of time with both people and processes that no one knows where or who to go to. There seems to be a new system or process that is rolled out at least weekly and people no longer bother trying to keep up since it will change again once the last version is discovered to not work. It is hard for those who have been around for a few years to see how the company has deteriorated. It used to be a company that was proud of its culture and unique group of talented people but it is now filled with no one who knows if the other person is a contractor, consultant or an actual employee. I guess a pro could be that at the rate the employees are leaving, and if the company starts having any luck filling the many positions, there will no longer be reference for what the company was and only what it currently is.