How to modify from Public (Open Membership) to Joinless with SSO?

I'm interested in learning more about the process + pro/con of updating my community settings from Public (Open Membership) to Joinless. We currently have an SSO enabled that gates members from seeing any community content until they are logged in. 

I am interested in making our community 'view only' so that our content is listed in search results for SEO and created less friction for users that just want to be able view content. 

Would love any guidance as I continue to explore this significant update.