I went from many years at FB, to a place like you describe - hundreds of small repos, all versioned. It’s a nightmare to change anything. Endless git cloning and pulling and rebase. Endless issues since every repo ends up being configured slightly differently, and very hard to keep the repo metadata (think stuff like commit rules, merge rules, etc) up to date. It’s seriously much harder to be productive than with a well-oiled monorepo.
With a monorepo, you wanna update some library code to slightly change its API? Great, put up a code change for it, and you’ll quickly see whether it’s compatible or not with the rest of the whole codebase, and you can then fix whatever build issues arise, and then be confident it works everywhere wherever it’s imported. It might sound fragile, but it really isn’t if the tooling is there.