Pros:

• Sharp
• Nice construction
• Effective VR/OIS
• Fast and accurate AF with good tracking. I've used it for a mix of birds, bugs, and youth sports. It's never failed to disappoint
• It's not white and collapses somewhat small for a longish FF lens. I like to believe the lens didn't stand out that badly when I use it to shoot youth sports. At least I had multiple parents tell me they appreciated the photos. The hood adds a decent amount of visual mass and it's probably not needed 95% of the time
• Decent pseudo macro, but only at the wide end (1:3.1 aka 0.32x)
• 500mm is 25% more reach than 400mm and is enough for my needs. I'm on e-mount and this lens combo is faster than Sony's 100-400 with a teleconverter
• Good price to performance ratio
• The lens has a focal length lock that uses a clutch like mechanism to lock the lens at any focal length. It seems a bit gimmicky, but I find it useful
• My copy appears fairly well centered, so yay

Cons:

• Stiff zoom action and somewhat front heavy when fully zoomed. There's no manual focusing this lens when it's fully zoomed unless you're using a monopod or tripod
• It's a bit heavy, but is on par for this focal length on a FF lens. If you only need 400mm, get a 400mm lens to save some heft. I use this lens exclusively hand held, but I'm also reasonably fit. I have sat on the ground and used a knee as a makeshift monopod at times though
• Somewhat slow aperture, but this also on par for the focal length. I only use this lens outdoors, so it's never been an issue. As far as consumer lenses go, there's not much faster out there at this focal length
• If you need a long lens you're going to need something longer than 500mm. There's obviously more reach here than a 400mm lens, but it's not that much more. This isn't a real con about this lens, just know what focal length you need and go from there
• No teleconverters on e-mount

Bottom line:

• If this focal length is your jam, this could be your lens
• If you don't need the reach, get something lighter and more compact
• If you don't mind walking around with a massive lens and you're on e-mount, Sony's 200-600 zoom action is really hard to beat