The main consequence is that we need an extra level of vigilance and discipline in PR reviews, or else implicit trust in one another. With a small team, this isn't difficult to maintain, even if it means that typing isn't 100% perfect in our codebase.
I've seen two implementations of branded types. One of them exploits a quirk with `never` and seems like a dirty hack that might no longer work in a future TS release. The other implementation is detailed in this article, and requires the addition of unique field value to objects. In my opinion, this pollutes your model in the same way that a TS tagged union does, and it's not worth the trade-off.
When TypeScript natively supports discriminated unions and (optional!) nominal typing, I will be overjoyed.