I can only think of cons, really.
I mean there's kind of an ego stroke as a pro, but I dunno that that will make you any bank.
For cons -
- It lets your competition know what you're doing.
- It inspires a bunch of new competition from people who think "Oh, I can do that" and decide to copy or even scrape your business model and your site, with varying degrees of success (but it's still a nuisance)
- it invites a lot of people (like ... from here) to pick your site apart and expose weaknesses in public forums.
- it brings a lot of traffic that likely doesn't convert, while people are picking your site apart.
- it makes you the open target of envy, and from that, mayhem can ensue. Might as well paint a target on your back for botnets and hack attempts and DDOS.
- You're probably used to friends and family asking you for advice, now you'll get requests from people you never heard of, wanting to "pick your brain" or get your opinion on their crappy site.
- if Google turns around and Pandalyzes or Penguins you in a very public way, it adds an extra layer of humiliation on top of all the other stuff you're dealing with trying to save your site (I didn't like the builder site layout either, but I felt bad for him being thrown under the bus like that in such a public fashion)
Man the more I think of it, the worse it gets.