I've been pretty invested in helping organizations with their cloud-native journeys for the last five years. Modernizing and improving a team (and eventually an organization's) velocity to deliver software-based technology is heavily influenced by its people, process and eventual technology decisions.
A microservices approach may be appropriate when the culmination of an application's architecture has become a bottleneck (as a result of the various people/process/tech factors) for making changes and "going faster", but it is not the only approach.