Pros
It is very easy to get into at the Loss Prevention L4 level due to the really poor compensation. The job is also extremely fun, and alot of retired Law Enforcement will do it just because it's a good time. The pay is awful at the L4 level, but pretty decent if you can move up a couple times. Usually it gets pretty livable by the L6 level.
Cons
How successful you are is very dependent on being at the right place at the right time. Performance is still a factor, just not a really big one since LP has alot of competing prioritys. Nepotism is also a big factor, but not in a snobby way that you would normally think of. LP quality standards at Amazon are extremely inconsistent, so alot of managers will often take an average performer they know, just because they know what they can expect. This is also due to there being no real requirements to enter LP at the L4 level, and pay close to the L1 level. So you either get candidates who sacrifices pay to do what they love, or someone who has zero qualifications or motivation, that's just trying to get a L4 title to get a leg up, to eventually do something else. LP also says they promote, but thats not really the case yet. You pretty much have to apply like an outside hire for each job, making it a total free for all unless you know the hiring manager. Pay for an internal hire is also 30% to 40% less than an external hire.