Yes, but you would split a monolith into smaller microservices. It's inaccurate language to say you'd split a monorepo into smaller microservices (as GP describes), that's a conflation of two different but related concepts.
As I read this post, I was really looking forward to learning how they productionized it, as that seems like that is where the rubber meets the road (and where the complexities and dragons lie).
This sentence "With that, Wayfair decided to split the monorepo into smaller microservices" makes little sense.
The main reason most people have monorepos in the first place is because they have smaller microservices, and to facilitate working on them as a unit.