Release schedule has not been adjusted despite losing 15+ developers since in the last year (only ~4 have been hired to compensate), leading to lots of overtime and rushed work.
Mid-management is a grab-bag of skill ranging from uninspiringly capable to morale-crushingly incompetent. Don't bother hoping for this to change, though, since they're mostly family and friends of family.
New features are underdeveloped due to incomplete designs (see previous point) and buggy upon release due to understaffed QA working on hyper-accelerated cycles.
The company is stingy about pay raises. Any question regarding them is handled by management ignoring it and hoping you forget about it.
There's a push for outsourcing art, engineering, and QA. You can't spin hiring cheaper overseas replacements as a good thing for the dev team.