The truth is somewhere in between where you have dependent services large enough to warrant being their own monolith being split off. Breaking up of a monolith is almost never (anecdotal observation after 15 years of seeing this argument surface in every company I've been in) a technical need, but a combination of organizational and business requirements. This is not to say it's never technical, just that it's rare for it to be a reason.
Organizational: The teams are so huge that they prefer their own development cycle, deployment, and rollout safeguards.
Business: Partitioning of products for different SLAs, which is difficult to guarantee when you have a different team introducing some bug every other week that takes down the servers.