Avantages
The company hires smart, capable staff (because it makes them look good). There is a comradery amongst the employees because of what they mutually have endured together while working there.
Inconvénients
There is no future here. What was once a good company has been driven into the ground by the leadership there. It is in opposition to any reputable business practice you have ever experienced. When the staff inevitably demonstrate a prowess in their field that management thinks points a critical finger at how they are running things, management proceeds to tear them down and sabotages their efforts to prove they are smarter than them, subsequently sabotaging their own company. And if your job is tied to performance, then you feel trapped because you have nothing to show for your time there to be able to get another job, because you are sabotaged at every turn. Don't think “Oh at least it is a pay check and there are benefits” because that is not assured either, believe me. Be warned. Everyone is just biding their time till it all collapses.