> Won't a photon climbing out of a huge gravity well have a huge redshift
It depends; the key factor is not how "huge" the gravity well is (in terms of how massive the object is), but how close to the black hole horizon the light is emitted. The vast majority of the light JWST is seeing from black holes is not from very close to the horizon. It's from the accretion disk, which is much further from the horizon and so the gravitational redshift is much smaller.
It depends; the key factor is not how "huge" the gravity well is (in terms of how massive the object is), but how close to the black hole horizon the light is emitted. The vast majority of the light JWST is seeing from black holes is not from very close to the horizon. It's from the accretion disk, which is much further from the horizon and so the gravitational redshift is much smaller.