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Pro Easy bulb managing
You can select up to 5 bulbs to be part of a group, and a single bulb can be part of multiple different groups. This lets you manage the bulbs room by room, which is much easier than changing each bulb individually.
Pro Great at reproducing all colors
Instead of a typical RGB setup, this uses RGBW LEDs. That is, there is a red LED, a green LED, a blue LED, as well as a regular white LED. This allows for more natural whites - regular RGB bulbs try to mix a white color by turning all 3 LEDs on but depending on where you are standing you may be closer to the red LED, so the light will look a bit reddish. The dedicated white LED solves any potential issues.
Pro Control the lights from anywhere
Because they use Wi-Fi, these bulbs can be controlled from anywhere as long as you have an internet connection. That means that you can turn your lights on from work if you are expecting a delivery, you can turn them on while you're on vacation to deter buglers and more. Also, it's convenient. You can turn your lights on at home when you leave from work, or by tapping your phone to a NFC tag (if you use third party software and set it up beforehand).
Pro Lighting modes for any occasion
Through the app, you have access to many lighting modes. From 'disco' which pulses in-beat with the music to timers and configurable color pallets to even selecting a color by using your phone's camera and looking at an object, these lights seem to have it all.
Con No en mass controls
At most, you can adjust 5 bulbs at a time (if they are in the same group). That means that at night, you may have to go through the app and turn off 5-6 different rooms. There is no universal 'off' button to turn all the lights off, or change them all at once.
Con RGB or white
This bulb has a dedicated white LED, however you cannot use the white LED and turn on another LED to give it a splash of color - its either in RGB mode or pure white. You can attempt to re-create white using the RGB LEDs, and customize the color that way, however it is not possible to use all 4 LEDs at once.