Some of the advantages that I can certainly see with flipping the classroom include the ability for students to pause and review the content as much or as often as they like, replaying the videos for clarification, etc. Additionally, I love the fact that it gives parents insight into the classroom, not only to have awareness of the work being done, but to then use that knowledge to ensure that it actually gets done! Yes, students today are accustomed to digital content, so bringing that into the classroom would seem more real world, perhaps.
I think for certain types of students, such as those who are highly motivated and responsible, this model has many advantages, however, with inconsistent access to devices and Internet, this is not something I would rely upon regularly with my students. To add to that, doing work outside of class is a struggle for the majority of my kids, so it could possibly create even more of a deficit were I to require this model in my classroom.
From a teacher's perspective, some of the benefits of flipped classrooms include the fact that once created, the videos are there for future use and modification, and it definitely makes it easier to share with other teachers, substitutes, etc. On the down side, however, these videos require much forethought and time, and they require more effort than impromptu teaching. Like everything else, I see flipped teaching/learning as a trend to lean into rather jumping in head first.