Pros: It's convenient and automatic. It makes sure you backup before every upgrade.
Cons: There's no way to restore the store from a previous backup without getting tech support involved. I recently installed two new modules. One of them (Google Optimize) disabled all the product links on the category pages. I wanted to restore the store from the previous backup, but there's no way to do it within the functionality of Backup Master. Luckily, when I disabled Google Optimize, the store worked again. I had assumed that Backup Master would have a "restore from previous backup" option. It does not.
I would rate this a 3, not a 5. This review page won't let me select 3.