I totally agree with this philosophy. It sounds especially great on paper. However, while in practice, adherence to the module pattern can become quite annoying for very small modules.
Small modules usage throughout a project can change very quickly, because of this one may find themselves repeatedly adding a removing utility modules at a multiple times a day. Small breaks to npm install or remove small modules throughout your day can lead to a lot of wasted time (since it breaks your programming focus). Also, remembering which small module you used can be difficult (bc there may be many).
I think there are pro's and con's to each strategy..
IMO I think the micro libraries are an exception to the rule, where grouping them together can be beneficial to developers.