Ventajas
You'll get paid. Kinda.
This place is so balled up you can pretty much get away with doing whatever you want to. (Unless you're not liked, in which case people with letters in their titles will have it out for your head).
Desventajas
Management is disconnected from the (barely existent) engineering team.
Hiring and retention problem.
CEO has absolutely no idea what the product does and makes promises to potential buyers and investors that the product can do things it cannot do.
Low pay.
Too many pivots - company keeps changing directions.
Culture used to be great, but then (almost) everyone useful left or got fired.
Abandoned all the interesting technologies they set out to use in favor of cost-ineffective tech solutions, because there's a finance guy running a tech shop who can't even really use a laptop properly. Huge red flag if you are actually competent in your field.
Poor treatment of the few paying customers they had.
Poor treatment of anyone in the infrastructure part of the company (you know, the people who keep the servers running and the code not broken).
Shady, shady dealings with external vendors that are questionably legal.
Unfair employee separation practices. (In other words, you very well may be screwed out of money by resigning voluntarily to accept another position, seen it happen more than once).
Did I mention the hiring and retention problem yet?