To me (and take this with a large grain of salt, still getting into the microservices arena), the difference between monoliths and microservices is separation and duplication. Each microservice is distinct in that it performs a single function and is separate from other services. A monolith performs all the actions.
For the case of the load balanced monolith, it's all the same application running the exact same code, just duplicated. The beauty of load balancing is that you can use the same application and get great performance across multiple machines.
Of course, that does come with the usual downsides of monolith, most importantly (to me) the inability to scale individual features of applications.
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