Vantaggi
People join because of the fascinating technology but then have a rude awakening once they learn they cannot get anything done because of politics. There are a few good workers left whom I admire for trying to give their best while stoically ignoring the atrocities of their superiors, but this is not how it is supposed to be.
Svantaggi
The company is burning through the cash from going public and is a bloated, inefficiently run entity that is largely devoid of creativity and innovation. It is impossible to get anything done, be it due to the ridiculously slow and intransparent process for ordering components, or because of (rightfully) disenchanted colleagues not bothering to care about anything. The majority of those who don't leave immediately either stay for convenience (e.g. family to feed) / fear (immigration status) or because they have no professional alternatives. This is the breeding ground for plots and bad vibes in general, but not for innovation. It will harm your career and personal development if you try to move along with this unculture. If you don't, managers will find ways to make your life hell.