-- Let me clarify, PHP is useful with context. For building web apps. Each language has its best-uses. Laravel has the strongest ecosystem and community out of any language/framework combo I've seen.
I can literally setup and deploy a laravel application on a horizontally scaled setup with CI & autodeploy within an hour -- while maintaining industry standards.
PHP had its problems -- historically, but so did most languages. Do you remember Javascript before Node/React? Or before jQuery/Prototype? It was _trash_.
The biggest "con" to using PHP is that it's "bad" for the resume, no one is excited about it, so when looking to hire for it, most developers don't feel inspired by it -- which is a serious consideration depending on your circumstance.