My personal opinion: very few companies will hit a point where sheer volume of code or code changes makes a monorepo unwieldy. Code volume is a Google-problem. But every company will have problems with Github/Gitlab/whatever tooling with multiple repos; coordinating merges/deploys across multiple projects, managing issues, context switches between them, etc. And every company will also have problems with CI/CD in a monorepo.
Point being... there are problems with both, and there are benefits to both. I don't think one is right or wrong. I personally feel that solving the problems inherent to monorepos, at average scale, is easier than solving the problems inherent to distributed repos. The monorepo problems are generally internal technical, whereas the distributed repo problems are generally people-related and tooling outside of your control.