In my opinion the jet is balanced and gives a new playstyle. I'm talking about Sandbox 3-1 Seattle. If someone is up on the needle (almost always) then you need a way to get rid of them. You have the helicopter, but that is a bit slow and can be shot down/ have you shot out of it easily. Having the jet lets you break their defenses so you can get out and kill them yourself. Because of the player being a small target compared to the jet I find it hard to kill players with it. The jet can take 5 grizzly shots, or 1 magazine, so it isn't too durable, considering it's a sandbox server. Another thing you may think is unfair is the fact you can get into a place quickly and hang glide to somewhere easily. This is not true because if it is a populated area such as Seattle you will most likely be a target and shot at. While holding a hang glide or umbrella you can not shoot back. Once again I feel the jet is balanced and should not be blocked from being spawned.
-Update 5/19/2017
The jet popularity is already dwindling. I occasionally see one or two, maybe three. But really they aren't too popular anymore. People have started to realize they aren't the most OP thing in the world. Sure they can be powerful, but they are situational, and the situations they are good aren't all the time.