Pros
Powerful business model on core retail business that drives seemingly unlimited growth. The basic principle that the company was built on which by driving lower prices it can fuel sales, gain leverage and reduce costs from vendors to further reduce prices fuel growth, etc. is brilliant due to its simplicity. In order to be successful this model requires long term thinking and Jeff Bezos is famous for that, which allows folks to focus on projects that may add a lot of value 5+ years down the road. This also leads to plenty opportunities for innovation, which are key in creating a sustainable business. Another pro is the fact that the company focuses on three things that do not change no matter what the economy does: great prices, great selection, great customer experience. No matter what the state of external elements might be, focusing on these three things gives a company an edge. Finally its obsession with customer satisfaction is a lesson to be learned. Being in that environment gives a unique perspective on how to manage a business that needs to be seen in practice to truly absorb.
Cons
Unfortunately despite all the great strategy surrounding the business, the people management is absolutely terrible which I suspect will have long term negative consequences. There is little to no structure on how someone can grow which puts your fate completely in the hands of your manager or manager's manager. Obviously in any company they will always have a very strong influence in your career, but the lack of structure provides you with no safety net in case you happen to land on a terrible team. There is little to no training when you start in the company, but you are expected to work your butt off and get results. It is not uncommon that managers will say that you should spend time with your families, but give you so much work that makes it almost impossible. Additionally there is little room for errors, even if you have had years of recognized achievements, a couple of months of bad luck and your thrown to the dogs. I do have to clarify it is not like this in all departments. There are pockets of good people, but overall the senior leadership simply does not focus on their employees as much as they could/should.