Specifically, this is the ZE500KL model
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Pro Removable battery
The rear panel peels off, allowing access to the removable battery. This means that you can carry an extra battery with you, and replace it and get a full charge instantly. Or, down the road once the battery decays, you can swap it out and get another few years of use out of your phone.
Pro Good camera
The 13MP camera is the highest resolution you'll find for $200, but it also has a f/2.0 aperture which is above average for this price range. Other nice features like a dual tone LED flash, and 1080p video recording at 30fps are present as well.
Pro Very fast to focus
The camera on the Zenfone 2 Laser has a laser which helps it focus much quicker. This is especially important for low-light photography, because it's harder for a camera to focus when there is less light.
Con No NFC
You can't use NFC on the Zenfone 2 Laser. With Android Pay gaining popularity, and many banks coming out with their own mobile payment solutions, this could be a significant factor for some.