Pros
Cutting edge technology and some high quality source code.
Cons
Most proprietary technology documentation is off limits to Contractors/Vendors without special permission (a pain-in-the-neck to get). Yet, you are still expected to learn and use the technology. This is strange since the source code is in plain view. This documentation blocking slows down development with no gain in secrecy.
With exclusionary rules like this, you are made very aware of being 'less than' a regular employee and the stigma continues from there. In interactions with some, it's scarcely noticeable. With others, it's taken as an opportunity to act a bit superior and snobby.
Advice to Senior Management
Get rid of the red badges and open up the wiki pages. Contractors/Vendors are not subversives.