Pros
If you plan on staying here long term, the employee stock ownership plan (ESOP) may outweigh the LOW salary in the long run. No micromanagement. They try to be fair, and care about your family. If you do right by them, they try to do right by you.
Cons
No cost of living raises (Inflation has been over 23% in the last 4-5 years), no clear path for advancement, no salary bump incentives, no clear path for raises in general. Starting salary, low.
For an "employee-owned company" employee's don't hear much of anything about the board, their plans, what they do or discuss. Even how to get on the board. No real onboarding process, just learn as you go with the help of other employees who are willing to help.