Pros
You work with the latest tech. As a small company, you have control over the entire development process from start to finish. You will build things from the ground up. The legacy code is painful, but there are active efforts in migrating away from it (and the ETA is by the end of 2021). It looks like management is working towards improving the general processes and becoming a bit more structured, trying to enforce best practices. You have a say during developer discussions, and people are willing to take action on your suggestions. The salary is maybe a bit above the average for London. A bonus scheme was also recently introduced. You work in the gaming industry, which makes it a unique place to work. There are game nights sometimes, testing sessions every Friday, and you may have to test games as part of your job sometimes. You have an office to go to if you wish, which is about to undergo a redesign better suited for social distancing.
Cons
No health insurance. Still very chaotic at times. A lot of context switching involved. It still feels like a cowboy development, which people may not enjoy, but it is getting better. The team structure is not ideal, and logistics are not great. It very different from a well-established large company. Many people expect an environment where everyone is passionate about games, but that's not the case, usually.