The churn is real in leadership positions. Managers get shuffled around constantly, you can expect to have multiple managers in a year, and therefore no continuity in how you're managed or how you're evaluated for promotions. I've not had any truly awful managers, but the (multiple) managers I've had have always been either good at helping with technical stuff, or good with dealing with the mentorship/skill-growing "people" side of management. Never both skills in the same person.
Also due to the churn, the org, or parts of it, can seem rudderless at times.
The org won't pay for its devs to go to conferences. No "learning" budget like you see at some companies (where you get a bit of money for tech books, online courses, etc).
Building 864 isn't terrible, but it's not great. Same story for PTO days.
Flexible scheduling and the ability to work from home periodically should be more consistently supported. Plenty of teams are fine with it, but others aren't.
The proxy.