I don't know if I would do it for web dev, but it's great for ML stuff to work on a massive machine.

Pitfalls maybe are leaving the VM on racking up $, I just made a crontab to shut it down at midnight. Some storage options are way more expensive for 100gb of storage (the extreme ssds) that aren't worth it. And I think the other is basic linux admin. Also making sure it's firewalled properly