Hi @Xcessiv ,
Sharing Azure subscriptions can have several advantages, including easier manageability, simpler networking, and easier team collaboration. By having both projects on the same subscription, it would be easier to manage all resources in a single pool, and it would be simpler to make updates across all resources.
Additionally, networking effort would be simpler since all resources would be in the same subscription. Team collaboration would also be easier since everyone would be working in the same subscription, making it easier to share resources and reassign VMs to coworkers.
However, it is important to keep in mind that subscriptions serve as a scale unit for component workloads to scale within platform subscription limits, so it is important to consider the scale of the projects before deciding to share a subscription.
Pros and cons of the changes that you have put forward would depend on various attributes related to reliability, architecture, etc. which differs from environment to environment so I would recommend going through the related documents mentioned below in the references section. As you were already following Cloud Adoption Framework documentation, to learn more about recommendations for sharing, go through this document which might be helpful. Also, this discussion page might be helpful for architecture related questions.
References: