Yes, but no once you factor in Conway. Teams deploy and are responsible for their own running services. The line of demarcation is via TCP connections, not the call stack inside some process owned by 9 teams.
Unless you have a lot of teams - like 10 and more - it's quite manageable to work on a solidly modularized monolith. But in general you're right; after your reach certain threshold of teams, it makes sense to have a few, not one, units of deployment
