Oh absolutely! But why not more?

Why are scientists around the globe competing for small chunks of time on the jwst when we could have several more telescopes like it? Or perhaps even a few slightly less advanced telescopes. I know designing it was a huge challenge, but even with the design complete, just constructing it presented a number of serious challenges. Given that the jwst was such a complex project, I wonder if a series of telescopes with optics and instruments still significantly more modern than Hubble would still be useful to astronomers as well as much easier to produce than the jwst.