Pros: cute, holds baby's attention
We got one of these as a Christmas present over a year ago and it was one of my son's favorite things. I let him play in it while I showered, cooked dinner, etc (stuff I couldn't safely hold/wear him while doing, basically) and he loved the little animals. I think it's a great toy for babies who aren't walking yet but would enjoy playing with toys a few minutes while mom is getting things done around the house. I love that it safely contained him close to me, like in the bathroom while showering, so he could see me and play, but couldnt get into the toilet or tub to get hurt (he was a pretty climby crawler).
One funny note: my son had a tendency to have bowel movements while in this exersaucer. The seat is washable, and the nice thing about the farm one is that the seat is yellow to begin with, so stains weren't as much of a concern in the case of total blowouts as they would've been in some other seats.