Great article. You make a lot of good points. However, I have to disagree with this statement. Even without elasticity, most of the benefits you mention are worthwhile and valuable. You mention Velocity due to low-code coupling and quicker deployments. Both can be highly valuable — even if scaling and elasticity are not a primary concern.
Your main points are good, though. It is a journey through SOA to micro-services. It is good engineering, and it isn’t a fad.