Benefits:
They are something the market wants and they are paying for block space.
They make Bitcoin fun and entertaining, and keep altcoiners coming back to Bitcoin.
Increasing Ordinals fees may benefit Bitcoin's overall security model by providing income to miners after halving is completed over the next 120 years.
Cons:
May make it difficult for node operators to run full nodes and could overload the blockchain.
Inscribing non-fungible features in Satoshis may harm Bitcoin's overall fungibility and affect privacy.
While Bitcoin's block space is not entirely scarce, as the adoption of Ordinals increases the negative effects of inscribing this data into blocks may be felt.
