I downsized right before sh!% hit the fan in the US, and it’s been fine. Had a Trek Checkpoint, S-Works Tarmac, and Trek Boone. We were moving to a smaller apartment so it was partly out of necessity, but I also wanted a MTB, so selling a few was the answer. With the Trek Boone, I get a lot of use for the money. I have a few wheel sets that I swap out, as well as cassettes.
For road, I’m running 50/34 and 11-30t, with 25mm Vittoria Corsa or 28mm Conti GP4000 for racing and training/normal riding respectively. For gravel I can either keep the wider 28s on, or I have a set of WTB Riddler 37s. For gearing I’ve tried 50/34 with 11-34t, and also 46/36 with 11-40t. Going 46/36 up front lets me go wider in the rear (and staying within RD capacity), though I miss the top end with only the 46/11 combo. For CX, I go 1x, with 40t front and 11-32t rear. I really only go 1x during cross season, it’s 2x the rest of the year.
Overall, I’ve been pretty happy with it. I’ve raced crits and done pretty well (4/5 field nothing crazy). I’ve done long rides of 60-70 miles. It handles just about any terrain. There are downsides, though. Going back and forth between outside and the trainer is slightly annoying having to reindex the RD (Di2 makes it slightly easier). Changing the gearing is time consuming, and why I usually just leave the 50/34 chainrings on all the time. Wheel swaps aren’t too bad. And it does sacrifice some on flat roads, but not too bad. And at 7.95kg for the road setup, it’s not terribly heavy, about half a kilo more than the Tarmac.
With that said, the new Tarmac is really calling my name, and I will probably pick up a dedicated road bike in the future.