One of the drawbacks to a company culture so rooted in the team mentality is that nothing gets done without a meeting. Any decision, no matter how mundane, cannot be acted upon without at least one meeting. When you make everyone a stakeholder, it becomes very difficult to move quickly or to simply get anything done without a lot of leg work. Most managers spend their day at the office in meetings and their evenings at home working on everything else. Not only does this slow things down, it can create roadblocks where stakeholders (or those who feel they should be stakeholders) hold decisions or projects hostage.
This leads to the greatest "Con" about working at Nike. If you're no good at politics, then you won't go far in the company. Every stakeholder (and every person who thinks they are or wants to be) must be appeased to get anything done. If you move to quick, toes can be stepped on and you can find yourself on the outside-looking-in on your own project, as those with more company connections, better political skills, or more social savy push you out. This is the dark side of team-centric organizations. On a sports team there are hard numbers and clear ways of measuring impact, performance, and success. In the company cultural setting, these are more fuzzy and harder to define. Thusly, it comes down to perception. Be prepared to work more on company politics and your social reputation than on actual projects.
Remember all those amazing benefits? Well, they come with a price. Nike pays significantly less than other companies of comparable size and wealth for the same jobs. It's not uncommon for HR or recruiting staff to inflate salary ranges by including all those great benefits in a quote or offer. The reason is simple. Nike believes that simply having the chance to work them should be reward enough. In some cases, I've seen as much as $10,000 difference in salaries. When this is combined with a work/life balance that is non-existent (because coworkers are expected to be friends in their personal life and all those meetings make for typically ten hour days), the convenience of all the great benefits offered in place loses much of its charm.