+ve’s low center of gravity, you’r weights acting through the pedals/BB. This makes stuff like cornering (as your weight is almost over the tyres contact patch), or riding through rocks easier (as there’s less moment pitching you over the front of the bike).
-ve’s you hit the pedals/chainrings on rocks/bumps a lot more, and it’s harder to wheelie/manual, trials and jump bikes often have zero drop BB’s to make them more manouverable.
Traditionaly Canandian bikes (Kona, transition, Cove) had tall BB’s and slack angles, British bikes (Saracen, DMR, Orange) had steep angles and lower BB’s. And ammerican brands (Spesh especialy) had really low BB’s. These days everythings more homogenous, but there’s still examples to back up that pattern.