Pros. The searchable archived matches in particular are amazing - you don't have to watch live. The yearly price is less than the price of a single night in a hotel. They cover more events than any one person could by traveling. FloArena works pretty darn well for keeping track of tourneys. The technique videos are pretty cool.
Cons. They have a near monopoly. They lean too hard into the talking head/pundit side of things. Streams drop often. Apps aren't always easy to use. And this a personal beef but as an Okie State fan when the Big 12 dropped Flo and went to ESPN, Flo took every opportunity to badmouth us and make us look like idiots. Even now they have a clip on IG of Daton vs Desanto... and it's a 0-0 scramble. Not a Daton takedown, not a Daton counter, nothing about the Daton win. They seem to abhor portraying OKState in any kind of positive light. This may be a reach but it happens often enough to make me wonder. They do interview some OKState guys but it the vibe is often "we have to do this, if only it was a Big 10 wrestler I'm interviewing then I'd be excited". I'm not saying they should worship the ground OKState walks on, but the way they choose to portray our program DEFINITELY changed when the Big 12 went to ESPN.
Honestly its not a bad product overall, but it might not be a bad thing if they got bought out by a real sports network that knows what they're doing and doesn't feel like a tech startup.