Extra Credits talks about procedural generation, including the pros and cons.

While this is a good introduction to the topic, the main reason I wanted to highlight this here is the way they delve into the reasons why you might not want to use procedural generation.

I’m all in favor of more procedural generation, but–as Dan Cook has said–procedural generation doesn’t solve every problem. Sometimes it’s better to use other methods to get the results you want. Sometimes you want a fixed star to steer by, and sometimes the effort at producing a generative solution is greater than the value of the results. Knowing when and where to not use procedural generation is an important part of learning how to use procedural generation.

(via https://www.youtube.com/watch?v=TgbuWfGeG2o)