Pros
If you stand out and put in the work you may have opportunities to lead a project. Pretty good leave policies, but only if you actually have the room to take it. Likely to work on games that will be shipped to players relatively quickly.
Cons
If you are outside of the Australia time zone, then you will have a much tougher time finding balance in communication and syncing meetings. Pay is more based on initial role which can fluctuate a lot, and also biased towards Australian standards even if you live elsewhere. This can be good if it favors your country, though. Junior devs have a lot of control over production code and projects in general. There isn't enough supervision to work in a maintainable environment. Lack of long-term planning leads to messy project iteration and frequent crunch to hit deadlines, even if the nature of the project/feature has changed. Focus has shifted in recent years to a subscription service rather than new games. Games haven't been forgotten, but it's hard to tell how much the subscription maintenance will affect dev work going forward.