Pros
Good only if you are in sales and marketing. This is an public enterprise software company running out of cash, which means R&D isn't their main focus at this point. (Just look at their SEC filing, their marketing and sales expenses are 3 times R&D). Kudos to CEO and a couple upper management somehow able to attract bright engineers with promise of 10x growth in stock price.
Cons
Most engineering managers and directors have zero people management skills. They try to imitate Google's promotion scheme but don't have the right people on the committees. End result is that people with good social and self marketing skills get promoted while people who get stuff done gets fed up, become less productive and then leave. They also don't have enough money to fairly reward all talents, so a lot of senior engineers are leaving (which is also probably what they want anyway given the need to save expenses).