Pros
The people you work with are awesome. If you don't make some lifelong friends here, you're probably doing something wrong.
Cons
A few years ago, there was a change at TREK. It didn't happen quickly, but the culture started to change as the industry started to return to pre-covid business. Many of the people that helped shape TREK's amazing culture started to leave. Those that stayed endure brutal layoffs and report to people that now exist in their positions only for their own self-interest. You have to understand that TREK was not a company that many people used to leave.
The direction of the company feels uncertain. Leadership seems to care little about retaining long term employees. They have let so many people go in different fields that a lot of day-to-day operations seem to slow down. Purchasing customers also led to a major shift in how the company runs today. It's much less calculated, and directional changes in how the company operates seem to happen with no notice and with poor planning.
TREK will eventually find it's path forward, but it's doing so at a steep cost - the loss of dedicated and loyal employees that were there for the mission and future of the company. They brought integrity, (real) brutal honesty and vision for what the company could be. The only thing keeping TREK in it's market leading position today is simply how poorly the rest of the cycling industry is doing right now.