i guess there are certain advantages, such as reduced bird strike/FOD risk. also frees up more space at the bottom for weapons bays for example.
i guess the biggest risk is that its prone to hot air ingestion when flying behind another aircraft in formation. also, it could ingest fuel when A2A refeuling goes wrong.
ejection could go wrong, but if the egine shuts off when ejection is triggered and given enough thrust in the ejection rockets, i think the risks are similar to that of a conventional aircraft. its only dangerous if you dont have an ejection seat (like in the Heinkel He162).