Avantages
The space and location are breathtaking and RH does a really good job of hiring people with great personalities (on the subordinate level). When I was there, the work week was 40 hours and there were a fair amount of not-mandatory-but-mandatory social events. Pay was competitive, benefits were decent. RH takes a great deal of pride in it's "RH People" - and it can be nice to feel a part of this tribe.
Inconvénients
Beneath the "happy family" facade is a broken home. Many of my colleagues and I were consistently demoralized by a lack of appreciation/trust and a general lack of opportunities to do "creative" work, afraid of unknowingly upsetting the wrong people, and always ready to be let go for any number of reasons (legitimate or otherwise). Preferential treatment is obvious and any kind of internal constructive criticism is met with silence at best and contempt at worst. The absence of HR is more problematic here than other agencies I've worked at - and many concerns are left unaddressed to the tune of "just pretend it's not there and it will go away." My most heinous personal experience is when a supervisor, upon finding out I had put in my notice, called me a homophobic slur then laughed it off. I brought it up in my exit interview. To my knowledge, he's still employed there.