Pros
You will be paid for showing up. You will also be paid the same regardless of whether you are the top performer or the lowest performer.
Cons
They are going to do what they want, so being cautious is probably the best approach. Avoid coming in too aggressively or standing out too much, because being overly strong at your job can end up making you a target within the department. If you strongly value ethics and fairness, this may not be the right environment for you.