Your tokens should generally have a rather short lifetime - then you can keep the entire relevant window of revocations in memory.
The implementation is not trivial though, that's for sure.
No? Maybe? It depends on your load balancer. Assigning a client to a specific server is "sticky sessions". Many of us don't want to tie a client to a specific server and prefer a completely stateless 12-factor-style mechanism where any server can serve the client and stateless tokens provide a mechanism to achieve this.
without revocation. What's wrong with tieing a client to a server, or co-located server? Either they are close enough to share tokens / sync fast, or not?
Nothing, if you can get away with it. What do you do if your server dies or is overloaded? The 12-factor patterns came to be for services running on ephemeral hosts in cloud environments. Stateless servers mean you can seamlessly serve requests from another server without problem. Sure, you can store the sessions in a shared resource (redis perhaps?) but this complicated failover and redundancy and may add latency.
Maybe this isn't an issue, maybe it is. If you don't need or want that, then just use normal sessions, for sure.
Revocation can be handled (although admittedly not as well as with sessions or stored tokens) through short TTL's and refresh tokens (which are stored, but only need to be looked up when the stateless token expires). Its not perfect, but its often a good enough tradeoff.
By your measure, 1GB can store a lot of tokens in memory: 32B tokens + that again as metadata (e.g. user ID + TTL in Redis) = 15,625,000 tokens.
And you're overestimating the necessary size of a revocation store. Only a tiny fraction of your users ever log out or otherwise invalidate session via means other than TTL. You're looking at storing just a couple thousand 4-8 byte revoked session ids and ttls instead of gigabytes of session data.
If you have a security breach and need to invalidate all tokens, just reject all tokens with an issue date before it's fixed. And they all fall off anyway after a week (or however long the ttl is).
For client-server a 5 minute refresh is fine, as long as you do a lookup for refresh, so you can expire refresh tokens, requiring a full re-auth.
A server with 1GB can hold a lot of JWT's in memory. Probably more than most of the people building services here have to actually deal with.