I’ve personally done plenty of recording in “non-traditional” spaces. 9/10 I cam able to get a decent recording once I figure out how to mitigate (a-la the use of go-bo’s). Vocals can be tricky if the room is really live. Drums can be tricky if you’ve got a bunch of parallel naked walls.
To answer your question about the tradeoffs, I’ll take a great performance everyday over a technically perfect recording. I’ve had times where I’m mixing an artist/band and the vocal recordings aren’t all that great but the performances were killer. Rather than fight too hard against all the “imperfections”, I leaned into them more (exaggerate) and was able to create a cool sound that was unique and identifiable to the artist.