Sure, sometimes they do. But more often than not they introduce more problems than they fix, or at best, they fail to fix the original problems.
Most of the benefits that people who choose microservices are looking for come more from good design and are completely orthogonal to microservices vs monolith. For example, separating code out into separate repos and deployments doesn't automatically separate concerns. But microservices inherently introduce a lot of challenges in orchestration, managing state, testing, deployment and all kinds of things that are much easier with a monolith.
Microservices is one of the most cargo-culted ideas in software development these days. I suspect there will be a backlash against it before too much longer. Will there be a resurgance of interest in Rails? Probably not. I suspect something at a much higher abstraction level will take over.