What are the benefits and drawbacks from clearing Organized Crime Activity?

I saw a loading screen tooltip that stated that, in my own words, "the NCPD is far too scattered to take care of all criminal activity, so residents of Night City are encouraged to dish out some vigilante justice."

A similar tooltip explains that intervening in criminal activity can help earn some extra Streetcred, which is needed to purchase items and level up certain skills.

I have not seen any explicit drawbacks, but I would imagine that later in the game, you might be making enemies that could cause problems for you. There's also the potential of civilian damage during these battles, which is problematic for V as well.

As long as you don't shoot civilians, there is not a noticeable negative impact. It gives you street cred and sometimes even money as bounties. However, there is a lack of content about the long term effects of some of the decisions. CDPR loves to have early decisions have potential game-altering decisions i.e. Witcher 3.