In practice, it seems not to be a tradeoff but an ideology. Largely because you can't measure the counter-factual of building the app the other way.
It's been a long time since I've done "normal" web development, but I've done a number of high-performance or high-reliability non-web applications, and I think people really underestimate vertical scaling. Even back in the early 2000s when it was slightly hard to get a machine with 128GB of RAM to run some chip design software, doing so was much easier than trying to design a distributed system to handle the problem.
(we had a distributed system of ccache/distcc to handle building the thing instead)
Do people have a good example of microservices they can point us to the source of? By definition it's not one of those things that makes much sense with toy-sized examples. Things like Amazon and Twitter have "micro" services that are very much not micro.