What do you like best?
When our company implemented Honey as our enterprise social network, it replaced a company-wide "Off-Topic" email list that was inundating people's inboxes. Honey is great as it offers a place to share relevant (or irrelevant) news and classifieds-style postings, plus offers a way to quickly crowdsource without spamming 500+ inboxes. Our HR and employee development teams also post important company updates on Honey so it's a good place to start if you're looking for info related to benefits, office closings, etc.
What do you dislike?
I think the search function on Honey is, on the whole, miserably flawed. If I'm trying to find an old post, I'm rarely able to track it down by a simple search and instead often have to try to remember the poster and go to their profile to access their post history, then scroll through their posts in order to track it down. I also find it very hard to find people using the "People" page. At a large company, you may need to find someone whose name you can't remember, and Honey should be the go-to resource for that. There should definitely be an alphabet slider so that you can go to the letter of the person's name you're searching for instead of having to scroll through hundreds of names to find the person you're looking for.
What business problems are you solving with the product? What benefits have you realized?
As previously mentioned, before Honey our company relied on a company-wide email list to source and relay information, share news/articles, etc. As the company grew, inboxes were inundated with emails asking for dog walkers or doctor recommendations or sharing things found on the web. Honey offers an unobtrusive place to post and find all of this information--and to search past posts in case you have a question that may have been asked in the past. For medium to large-sized companies that have this type of sharing, collaborative culture, I think a product like Honey is indispensable.