Amount of models in one project for one team


I know this is a long discussed topic, but my team is currently debating between a big mono project or a multi project architecture. We are currently responsible for around 500 models, in 5 different dbt projects, in the same repo.
We have inherited this architecture, and we currently are debating if it’s worth changing to a mono project, and if it’s a good decision since the amount of models will only go up.
Is the amount of models in a single project an issue? We are using tags and directories to group them and that is not a weakness. We are the only team responsible and the different projects are splitting the dependencies vertically and horizontally.