The benefits and drawbacks of both approaches is mostly: -what do existing tools do for you by default -what does creating artificial boundaries around projec

The benefits and drawbacks of both approaches is mostly: -what do existing tools do for you by default -what does creating artificial boundaries around projects does to your org (this is purely social/psychological). In both cases there are good and bad things, but given enough tooling and enough process, they do end up exactly the same. In practice you don't have enough time to write an infinite amount of tooling to achieve this, and the psychological aspect if the repository as a boundary is extremely strong. (disclosure, Im personally for having many repos in a medium to large organization, because I think those boundaries are good).