There is a number of flaws/features of the Vasiliev equations that have been revealed over the last years. First of all, classical equations of motion, e.g. the Vasiliev equations, do not allow one to address the problems that require an action, the most basic one being quantization. Secondly, there are discrepancies between the results obtained from the Vasiliev equations and those from the other formulations of higher spin theories, from the AdS/CFT correspondence or from general field theory perspective. Most of the discrepancies can be attributed to the assumptions used in the derivation of the equations: gauge invariance is manifest, but locality was not properly imposed and the Vasiliev equations are a solution of a certain formal deformation problem. Practically speaking, it is not known in general how to extract the interaction vertices of the higher spin theory out of the equations.