The pro is obvious: We all would be rich. Anyone holding 1 BTC would have the purchasing power of a millionaire, since 21 million coins is simply too few for any other outcome, considering the insane amounts of wealth out there that would come into the blockchain.
The elite is obviously not going to let this happen, unless the elite can get on Bitcoin and continue being The Elite, not just some big stakeholder. So they will either figure out a way to get in and outstake current Bitcoin elite, or pull a war against Bitcoin.
They are going to try to create their own coins but as we can see many people are not going to accept that, we know what is coming, the old same thing that happens every time we accept fiat from the government, they begin to print a lot more of it and they never decrease the supply, this is why I'm going to support bitcoin to the end since bitcoin has a hard cap that is never going to be removed.