I'm team trim the cheese. If it's significantly moldy then I will trim all surfaces, though I take much less than an inch. If it still tastes moldy, then I'll trim more/toss it. If it's moldy enough to look like it'll get mold everywhere if I open the package, then I toss it and scold myself for not monitoring my food closely enough.
Caveat: I do not trim soft cheeses (ricotta, cottage cheese, also yogurt). Any sign of mold and those get chucked in their entirety. With those the tendrils can grow down into the cheese much more easily, and scooping the surface is not enough.