Pros
Low pressure, slow-paced environment. Most people, even VPs, work a 9-5 schedule. Yes some work more from home at night but compared with other companies (where VPs are in the office 7am-7pm plus working 2-4 hours at home), the schedule is very reasonable and offers good work-life balance. The one sign of a fear-based culture that isn't true is that there aren't a lot of little petty rules. It's not a big deal if you want to take vacation or need to take a sick day.
Cons
Constant reorganizations and lack of trust in employees. Constant reorganizations: employees get title promotions without changes in pay, employees get demoted not because of performance issues but because management decides their job grades aren't correct (this has happened not once but multiple times), job roles aren't clearly defined, job descriptions and levels depend in part on the VP - if a VP is supportive of his people their job titles and grades will be higher than someone under a different VP even when the work is very similar. Lack of trust in employees: in almost every case when an opening and opportunity to promote would occur, management would interview a few internal candidates and then decide they needed to hire from the outside. Of course once that person started they would be in the same boat as existing employees. Internal promotions are rarer than at any other company I've worked for. Moreover, after a few years some of those new people get forced out - I've never seen turnover of staff like that either. Much of this has long been part of the culture but Jeff Post, after attempting some superficial and ham-handed changes, has given up and fosters a culture where are respected even less.