That's a good point, I wasn't very specific about this (trying to keep it concise). To be specific here, the con is that there isn't what the industry calls Cryptographic Agility.
https://en.wikipedia.org/wiki/Cryptographic_agility.
It is not true this con applies to all cryptography (e.g. look at TLS). It has more to do with how cryptography is configured, parameters are negotiated and keys are managed, than with point-in-time choices about algorithms. The con here is that unlike other deployments of cryptography, this one doesn't have parameter negotiation and key management - and therefore doesn't have cryptographic agility.
Re: "I'd wager that... AES..." is a also a good point. Modern cryptography has shown to be robust for decades and past their deprecation point. However, as you said, it IS a wager. There have been catastrophic failures of cryptographic primitives in the past. The con of this system is you will need to make a wager and tie yourself to the fate - you can't mitigate the risk if the catastrophic event comes or appears to be coming to pass.