Pros
Dynamic culture - company strives to be innovative, testing out products one after another. In the end, much of the products were duds. A more careful assessment would probably have yield better results. However, from an employee perspective, it's great to be in an environment that promotes innovation. Good visionaries from the CEO - truly a glass half full kinda guy. One would feel inspired by his enthusiasm and motivation. Though can't say the same for the rest of the execs.
Cons
Middle mgmt needs a lot of work - lack of training and promotion simply based on seniority both contributed to mediocracy in middle mgmt layer. Also too many mgmt layers A lot of deadweight - hopefully recent layoffs trimmed the fat (which should have been done long ago)