It looks like a sweater, for one.
And it really is going much faster now...
This are definite pros to a top-down raglan like this: once the long haul of the yoke is done, you pick up speed considerably. And it's great to be able to try the sweater on as you go to determine length. And the lack of seaming is a definite plus.
As to the cons: let's see the thing on and then we'll talk.