And yes, you need to store and manage more data and your session store is an additional Single Point of Failure... With JWT the revocation list is an optional... Your system can keep running without it; it just won't be able to ban users. It's a cleaner separation of concerns without SPoF.
JWTs have so many benefits over session IDs, I could write a book about all the benefits. Sure, there are some tradeoffs but the negatives are typically pretty minor or hand-wavy.