If it's not monocoque, it's 2 triangles bonded together, so in theory, it creates a failure point. Now, how often do you hear of frames braking there?
In theory, monocoque should be a tad lighter, and ride quality should be a tad better. I suspect that in practice, good luck discerning that.
I would assume it's a sign of quality, though, if someone is bothering to produce monocoque frames, i'd assume they know their bacon.
A lot of yishun bikes are monocoque. the long teng 266 is / was monocoque, afaik (not an aero bike). i think the carbonda 1056 is as well (not an aero bike)