Pros: They're definitely amongst the very cheapest in terms of the services they offer, and they provide best-in-class security, backup and range of services. Plus, they offer some killer coupon discounts for the first year of signing up with their services.
I've asked around over the years and, amongst digital professionals, GoDaddy is considered the hosting provider for online amateurs, rather than for professionals who need really robust, fast services.
I should explain that I'm a professional SEO/website creator/graphic designer, and I have set up hundreds of client and personal sites over the years. I say this so you realise that when I say there's actually very little that I like about GoDaddy in comparison to many of the other high-presence hosting/domain companies out there, I do know what I'm talking about. My worst experiences when it came to hosting were always with GoDaddy.
Cons: So many of my clients have gotten lost in the miasma of upsells, upsells and more upsells as they're trying to purchase some simple little thing, they end up buying tons of nonsense they really don't need. Often doing so by mistake when they failed to 'uncheck' some little add-on service box hidden at the bottom of the purchasing page.
Pretty sneaky tactic, GoDaddy!
In the past I've seen clients have domains removed from their ownership and given to someone else without their permission, when someone else has contested ownership. Had it happen to me too, a long time ago. I don't know if GoDaddy still allows that to happen, but it was so annoying!
Their tech support was pretty dire when I used them. I'm presuming they've improved mightily since then, otherwise I don't know how they can possibly still be in business...
Do your research before using their services; don't just choose them based on low pricing. Also, check the entire page when you are making a purchase to be sure that you're only purchasing what you need... not what has been automatically added because you 'might need it'.