It allows teams to work with less communication overhead. It solves more of a human problems than a technical problems, if someone think there is no value in that and bare metal performance is paramount that person never worked in a big org.
> RPC and REST are just more straightforward to monitor, log, cache, authorize and debug.
In some ways yes, in others no. For example it can be near impossible to see if a deprecated field in a REST API is still being used and by which clients it is being used. With GraphQL this is fairly simple.
Unfortunately GraphQL way of working is very different from normal REST APIs and often requires more complex server-side caching. The N+1 problem needs to be figured out upfront for every data-storage system used in the backend.