Pros
If you are always happy, friendly, and likable, you fit in with the corporate culture. If you work slowly, your work will be piled on to someone who works fast. The fast person will not be promoted, become bitter, slow down, then get terminated. The quarterly meetings are not boring but there is occasional sexual innuendos. If you are not offended by this, you will fit in.
Cons
Their peer reviews bring out the worst in employees. The framework is a prisoner's dilemma where cooperative strategies are unstable. Many employees who say bad things about their peers are already deeply rooted in the company. People ought to bring their good faith elsewhere. They probably know this and may be using this framework to get a high turnaround rate, justify termination, instill fear, and shape employee behavior. The hostile work environment discourages authenticity and breeds bad faith.