Pros
You will have the opportunity to work with large scope end-to-end projects, and you get to grow your skills in self-time management, project management, and setting your own expectations. There's a lot of independence, so if you prefer to do things your way, this is a great fit. Good opportunity if you're looking to grow fast independently and are self-driven.
Cons
Need to be very self-sufficient: there are no guiding rails when starting, not much assistance given when you are stuck in a challenge, and not many additional resources to reference. Due to the independence. you need to make sure you do your research/concept design phase well, as you won't get much feedback until you present it to stakeholders. Product expectations are varied across stakeholders, you'll need to personally reconcile them with your work & during presentations.