It can make sense when you have a huge team of devs and different teams responsible for everything where you may be on multiple teams, and nobody is exactly responsible for all the same set of services you are. Depending on the security/access provisioning culture of the org, "taking half a day to manually grant access to the repos so-and-so needs access to" may actually be an easier sell than "give everyone access to all our code."

If you just have 20-30 devs and everyone is pretty silo'd (e.g. frontend or backend, data or API, etc) having 75 repos for your stuff is just silly.