One of the things not covered here is how to deal with versioning. By default a monorepo will give you $current and nothing else. A monorepo is not a bad idea, but you should think about either preventing breaking changes in some dependency killing the build globally, or have some sort of artefact store that allows versioned libraries (both have problems, you'll need to work out which is better for you. )
When the folks working on the monorepo really need to slam through a change in the now-independent monorepo, we can use git submodules.