Pros
Yes, editors can work when they want, but the writing they must edit is so terrible and the pay so little, that the freedom is not worth it.
Cons
Thanks to Scribendi, hundreds of students who can barely write a sentence are getting advanced degrees because they have their papers rewritten by Scribendi editors. You can make a living wage if you can work 8-10 straight hours every day and, thus, do one-day turnaround jobs. But I am a caregiver, so I could not take any jobs that had to be returned in fewer than 5 days. As a result, the most I ever made for an edit was $8/hour, but I averaged $5/hour. For one two-page document that took me 30 minutes to edit, I made $3.25. I was a teacher, so I liked to explain why an edit was necessary. In one of my Quality Assurance checks, I had points taken away for this and was told, "Don't explain how to fix it, just fix it." So the writer, in other words, learns nothing. Many editors obviously pander for positive feedback, which is just sad.