Their prices aren't as good as other only places is what first turned me away from BPS/Cabelas.
Then once the merger happened, they quickly turned their focus to stocking/selling their in house brands and stopped carrying as much of the common, popular brands on the market. In terms of the house brand tackle itself, I find most of it to be cheap, off brand quality (likely Chinese made). So for that I will do my tackle shopping elsewhere.
Now when it comes to hunting/shooting, that's become a different story lately for me. As someone that shoots a lot and goes through a lot of ammo, I'm always looking for the best deal on that. BPS offers free shipping over $50 and that in itself is a huge savings. I've also found that my orders usually arrive in 1-2 days max because they have stores all over that they will ship from.