Pros
If you're willing to kowtow to management, you can get great career advancement opportunities. Pay has become reasonably good as the loss of droves of good employees has forced them to throw money at good people. And the work matters - people still make a living on eBay and it's rewarding to be a part of that.
Kontras
Senior management is very out of touch with the market - both for customers and employees. They now resort to fear tactics to retain employees who get interesting jobs - you don't see the great companies like GE or P&G rage on their stars' next job opportunities, and that's why those companies' alums proudly carry those banners for life. It is now a company that is trying not to lose, but they've given up winning long ago.