Pros
Students are incredible. Most of your co workers will also be some of the best people you will come across. Also, your work will make a difference. Generally interns tend to have a positive experience.
Cons
In one word this work environment can be described as unprofessional. There is no HR department or any actual accountability for unethical behavior (including sexual harassment and blatant lying). The company has lost a majority of its best talent and will continue to lose passionate individuals. In fact, people are wiling to leave this harmful environment even if they do not have another job lined up. If you have the opportunity to find a job elsewhere, I strongly recommend you continue looking. If you feel you must take the offer due to financial hardship, make sure you speak to a former employee before making a final decision.