Pros
If you plan to reuse the fringe benefits to the max, then it would be worth it. But if not, I would be extremely careful, especially with the fine line as to when the fringe benefits expire. Since they don't really specify that, you could be losing out a lot if you, let's say, decide to leave and didn't use up all your fringe benefits before you left.
Cons
They don’t really specify or talk about the fringe benefits in great detail, except how to use them and how much you would have for them. Other than that, there’s no guarantee that you would end up using all of it, especially if, let’s say, you decide to leave abruptly or it was the other way around. You could be losing a lot. And since the base salary is extremely low compared to the average market, then you’d really be out of luck.