Pros
If you're good at learning from other's mistakes, you're at the right place. Mistakes and wrong decisions in abundant. It starts from the root of the hierarchy, and stops there. The CEO is hebetudinous doltish and blockheaded at the same time. And everyone else suffers. Most of the team members are really good though. Company survives on that
Cons
Tried and tested management style. Mgmt has done in past, and doing it year on year. Hire wrong people based on their fancy stints. They ruin the company. Mgmt fires/screws/blames other employees including hard working ones. Mgmt invests in wrong decisions, be it leadership, or product. CEO gets influenced by every word that goes in her ears and makes/changes decisions based on that. It can be very unpredictable and super unproductive, spoiling huge efforts of the team. The decisions would eventually fail, and she'd make everyone suffer like if it's employees faults. There's lot of politics. We've seen people who can speak and influence the CEO to play bad games. This has recently uglified the team spirit and working culture of the company.