The single biggest con here in Michigan is that much of our hunting is on public or public access land. Once baiting starts some hunters start thinking of a particular patch of public land as "their" spot just because they have been putting bait there. Even before bait this could be a problem, but the bait multiplies it severalfold.
Another con is arms race of baiting that starts. Some bait piles are just obsene by nearly anyones standard. I talking about like a 40 yard box.
Another con is that the deer spend fewer daylight hours feeding and moving, just because they can.
Another con is that hunters, as a group, forget or never learn any other way of hunting.
The only pro I can think of is that it keeps most of the other hunters nailed down to their bait piles.