The standard model of cosmology is acclaimed in physics as accurate, robust, well-tested, our best scientific theory of the cosmos, but it has had serious anomalies for a while, including the Hubble tension, anomalous galaxies, and the completely unexplained nature of dark energy and dark matter. And lurking behind it all is the lack of a unified theory: General Relativity (GR) and quantum mechanics (QM) are inconsistent. Now startling new observations by the James Webb Space Telescope (JWST) in 2022 of the early universe present the strongest challenge yet to the standard model, and whispers have started that this shows there is something wrong with the fundamental theory, General Relativity itself. This would be a crisis for cosmology. But haven’t they tested this theory already, and shown it is correct? How could it turn out wrong at this late stage? Here we compare the standard cosmology with an alternative fundamental theory, that has a strikingly different overall cosmological behavior: a simple cyclic expansion function. It is simple and deterministic. There are only two or three general parameters. The alternative here has strong evidence already from other areas, but the primary result here is that this alternative cosmology: (A) closely matches the expansion observed and modelled through the CDM standard model, now going back to red-shifts of 5-15; and (B) it also predicts unexpected early galaxy formation now being reported by the JWST. The point here is not to try to prove this alternative theory however, but rather show how it compares to the conventional cosmology. This show us clearly how weak the empirical evidence for the standard model really is against a counterfactual fundamental theory. Some results established in science are robust against theory change, but we find the standard cosmological model and the implications drawn from it are not robust at all.