and the ESO is already one very powerful ray of telescopes, the most powerful one, IIRC, because visible light is somewhat easier to observe on earth rather than some other spectrum of the EM wave, ergo the need to build the space telescopes is to observe some spectrum that is hard to detect / undetectable on the lower atmosphere, especially for the high-energy spectrum ones, like X-Ray or Gamma which rarely penetrates to the lower atmosphere, where we can build our humongous monstrosity of scientific tools. But, for the Radio waves, we just need very-very large space to built them, then again, there's IR, which because of the composition of the atmosphere, are a tad bit hard to do in the lower atmosphere as well (remember water vapor?) hence the JWST. but then again, the moon, or other planetary bodies can very well make excellent spots for telescopes as well, like in the Voyage to the planets series (the one with that pegasus spaceship), they also brought a near-IR telescope to Pluto, and use the extremely low temperature there to increase the sensitivity of the telescope.
oh well, could I be rambling too much about this?
What I want to actually say is, JWST is not the improvement of hubble, myriads of the giant telescopes on ground are (well, since we managed to invent the technique to use different telescopes to observe particular wavelengths of visible lights, ground telescopes can produce clearer, and sharper pictures than HST, and it was since used more as a "scout" to look for targets for which gigantic ground telescopes to focus at later)