I think that is a very reasonable middle path.
I have spent a lot of time thinking about bounded contexts, in elixir and other languages. It is often difficult to work out exactly what they will be up front. When start a new project I often have two namespaces. one called www (not web because most services are likely to be available over the web) and one called operations. Projects then evolve often gaining an admin and/or analytics context. After that stage is when the ‘operations’ context starts breaking down into useful services and perhaps vanishing all together.
