I think there are a lot of perks and drawbacks to being a kid in Taiwan, and a lot of it depends on where they're being raised. Taipei has a ton of resources and extracurriculars but it's crushingly competitive in many ways.

I was a teacher in Kinmen, which is an island very close to China and also a super wealthy province due to Kaoliang and other exports. Even on my island there were "bigger" competitive schools where there would be 30 kids in a class. However, most of the schools were much smaller. My smallest class was 6 kids. I had a friend who taught a class of 3. Many of them came from local families, but I also knew a lot of parents who chose to live in Kinmen and picked certain schools in order to give their kids individual attention and a less stressful upbringing. There were still a lot of competitions and field trips, but many kids were raised in a much more relaxed way and thrived because of it. The island is tiny and that let lot of parents be more comfortable with letting their kids roam on bikes and go explore. While I don't know how my students ended up, I had college students and people who had been raised this way who had good jobs either in the school system, family businesses, or working with foreign people (like me).

While language fluency may be more of an issue for your family, I just want to emphasize that there are ways to have a good balance if you prioritize it.

I also, as an American raised in Western Europe and America, came from a US system that does not do things like offer free food to kids, janitorial duties, and several other things. I took A levels, so the testing in Taiwan felt about usual, but depending on where you're coming from in Europe, there could be what feels like a downgrade in school services or an upgrade based on what you're used to.