Why a catch can? Well so it doesn't just go towards powering your car. If it is a diesel that is. Basic problem starts with excessive blowby. I say excessive only because all motors tend to have some. That is why manufacturers designed the valves on the top of the valve cover to allow those gasses from the bottom side of the engine to find a way out lest they pressurized it like a soda can and have it do very bad things.
So as the engine gets worn and tired the blowby, gas passing the rings to the lower engine, gets worse. Diesels have nearly twice the compression ratio as a gasser so they tend to produce blowby easy. Some engines are set up from the bottom crank side, to the top piston side, facilitated by the use of a black hose coming out the front of the motor near the oil filter and up to the Valve Cover where there is sometimes a restricting valve. But for most of us it just routes from the top of the valve cover to the air box with no restriction at all.
That means that the oil can become part of the fuel we burn and evenually we end up with much less than we need and if it gets to be too much some engines can just run on their own. Really scary, trust me, Shifting up to third and not getting it to return to idle going into fourth is a butt suck to the seat.
So why the can though? It is the means by which we without the valves can stop the flow and reduce the amount of oil burned. Now if you have a hose at the bottom of the can that returns any oil caught without assistance you don't have to maintain anything. For those of us that want to monitor everything about our engines. Is 10 gauges too many? We like to see how much oil is coming out of the system for the various ways we drive. Or maybe as a means of determining that we really do need to replace the rings.
So that is the reason for the can and as to pros and cons to catching the catch can crap. I think it amounts to being able to reroute it easily or not. Or if you want to see what the catcher is doing for you if anything.
Guys did I get this right? Too many engines to generalize about maybe.