Pros
Great job for those interested in working hard and helping build something. What others leaving reviews are calling "It used to be fun" are referring to the unstructured and flakey work environment that prized goofing off and playing ping pong over discipline and hard work.
Mistakes have been made, missteps and sad times, but I can honestly say they are learning from their mistakes and trying to do the right thing. Anyone bashing Banyan should take a long look at themselves and maybe have some forgiveness in their heart for people who are human but genuinely care about others. I have never worked for a company that would do what Banyan has done for some of its present and past employees.
Cons
Was unstructured, is now becoming more structured and nailing down the loose boards. Used to be somewhat of an echo chamber, now is changing into somewhere that listens to employee ideas and values them. Used to be very secretive with "high level" meetings, and no dissemination of information and ideas, is now changing to a very transparent model. Note the use of "used to be". Things are changing a LOT.