Pro Greatly favours stability over anything else
RHEL favours stability over being up-to date. For this reason it ships with packages that may be up to two years behind in order to ensure stability over everything else.
Using older versions for packages means that they have been thoroughly tested and used in production for quite some time, and are ensured to play well with each-other.
This strategy has paid off quite a lot in the past. One example is the Heartbleed bug which left RHEL unaffected since it was using a two-year old OpenSSL library which did not have the bug.
Pro Built-in disaster recovery solutions through clusters
RHEL has several built-in solutions for disaster recovery. For example, it comes with pacemaker which can be configured to manage multi-site and and stretch clusters across multiple geographical locations for disaster recovery and scalability. It can also be configured to trigger notifications when the status of a managed cluster changes by using enhanced pacemaker alerts.
Pro Applications don't have to take into account potentially breaking changes in libraries
Since RHEL backports all updates and bug fixes to older versions in order to maintain package compatibility across releases, applications hosted on Red Hat Linux don't have to worry about potential breaking changes in libraries they use, especially language libraries.
Con Vender lock-in looms
RH is built on open source, naturally, but they've been accused of upselling and offering products in a way that leads their customers to a point of no return (vendor lock-in). Of course, you can always find a way out, but not without significant costs and time spent. Companies exist to make money, so it's understandable, but be careful.