Pros: The cedar smells nice, and the wood is so thin that two people can easily move this shed if you think of a better location for it later. You can't say that about a lot of sheds.  Protects your items from being seen or rained on.  Another pro would be safety. If a child locked himself inside, he could probably punch or kick his way through a wall to escape.
Cons: Flimsy shed.  Minimal instructions, so you'd better know your stuff.  Thin wood, which has the density of balsa, so be careful not to overtighten screws.  For what this thing costs, try to find one with a thicker frame or stronger walls, or for how many steps it takes to build it, you could feasibly buy some lumber and build the same one but stronger.