Pros
People are very friendly, flexible policies. As long as you deliver, and within reasonable expectations, you have a lot of autonomy in terms of going or not to the office, working hours, etc. As an example I used to take a couple of hours in the middle of the day to go to the gym, which I really appreciated and helped me perform better.
Cons
Some shifts in terms of the work being done (drop this and start this instead kind of thing) that interrupted the flow and caused stress due to quick context switching, sense of urgency, etc.