Pros
The team at Honor is the most diverse and cooperative group of people I have ever worked with. Honor operates in a unique and complex industry, which I think attracts more mission-driven and empathetic employees. I believe in the leadership's ability to make Honor a successful company, as the founders are seasoned and have previously founded companies (which were also successful). It has a much more family-oriented culture than other startups I have worked at (or heard about second-hand), which means that work-life balance is really important. As a product designer, it's a very interesting place to work, because of the complexity of the problems we're solving and the wide differences in our audiences.
Cons
Honor lacks some of the perks that can be found at larger companies in San Francisco. We don't have gym stipends, kegerators, or in-house chefs. (In the SF office, we have catered lunch 3 days a week and a stocked kitchen, and that's fine with me.) In general, I would say the non-comp perks may be relatively modest compared to other venture-backed startups. I know keeping our burn rate low increases the odds of Honor being successful long term, so I personally don't think it's a big deal.